© Reuters. Tupperware Brands (TUP) Sees Uplift After Announcing New Head of IR
By Investing.com Staff
Tupperware Brands (NYSE:) is bouncing 6% in pre-open trading Wednesday – following Tuesday’s 33% sell-off – after the company announced a new Vice President of Investor Relations and Strategy.
Tupperware Brands named Douglas Lane to the position, after making cuts in the IR department recently to the vexation of investors.
Most recently, Mr. Lane served as Founder, Principal and Director of Research for Lane Research LLC, a boutique Independent Equity Research Provider to Institutional Investors.
On Tuesday, an industry source voiced concerns about the recent headcount reductions, especially in the IR department, and a blackout on investor dialogue.
“Last week, TUP made some more headcount reductions,” an industry source said. “They cut out internal IR and, it was told to me, that the CFO said she didn’t think the company would be having that much dialogue with investors in the coming months.”
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