What a difference a day made for Tupperware Brands (TUP 3.78%). The food storage products mainstay had an awful Tuesday following media reports that the company was essentially gutting its investor relations (IR) efforts. Wednesday morning brought a new development in that situation, however, and the stock enjoyed a very healthy gain of slightly over 19%.
After market hours on Tuesday, Tupperware announced that it has hired a new vice president of IR and strategy, effective that day.
This is Douglas Lane, a veteran financial analyst and brand marketing specialist who has founded or co-founded businesses in both disciplines. Most recently, he also served as founder, principal, and director of research for one of those enterprises, Lane Research. Interestingly, Lane Research's stock coverage included familiar consumer goods titles, one of which was Tupperware.
In its official press release on his hiring, Tupperware wrote that he "will lead the development of the company's business strategy and interface with the investment community." This feels like a direct response to those reports that Tupperware might be going dark on investor communication.
Well, that's one way to get ahead of negative press. Judging by his resume, Lane is a seasoned executive who also has considerable experience on the investor side, so most likely, he's a solid hire. It's more than likely he'll keep the information flowing properly from the company to its shareholders -- at least as much information as it feels compelled to release.
Outside of that scuttlebutt that was making the rounds on Tuesday, Tupperware has actually been delivering spots of good news lately. In early August, for example, it released its second-quarter results that convincingly beat analyst estimates on both the top and bottom lines.