Tupperware Brands Corporation announced on November 2, 2022 that, in execution of its turnaround plan, Hector Lezama, President, Commercial Business Expansion, has been appointed to the position of chief commercial officer. In connection with this organizational restructuring, on October 31, 2022, the company determined to eliminate the position of president, Commercial held by Patricio Cuesta effective December 31, 2022. Mr. Cuesta will continue with the company from January through May 1, 2023 in a non-officer role to support the transition, at which point his employment will terminate.

The Company has entered into a waiver and release agreement with Mr. Cuesta under which agreement Mr. Cuesta will receive, at the time of his departure in May 2023, benefits as provided in the amended and restated Executive Severance Pay Plan.