Safeguarding Skies Deciphering Boeing's Governance

Governance, Safety, and Boeing, Behind the Numbers: Tupperware, Climate Regulations Whitepaper

Author

KC Schreane
March 27, 2024

Welcome to Climate Money Work, a weekly newsletter that connects revenue generation with sustainable business solutions. Discover how companies worldwide are showcasing innovative practices, creating value from sustainability, increasing revenue, and improving customer experiences. Send questions, feedback, and pitches to [email protected], or just hit reply.

Governance, Safety, and Boeing

Boeing's recent management changes, prompted by safety concerns, have reignited discussions about the imperative for enhanced aircraft safety and quality. CEO Dave Calhoun's announced departure by year-end, accompanied by the departure of the firm's chairman and head of its commercial-aircraft business, underscores the gravity of the situation. Persistent issues culminated in a concerning incident where a door plug fell off an emergency door, resulting in a hole. 

As Boeing navigates these challenges, debates persist regarding whether leadership should be sourced internally or externally. The paramount concern extends beyond financial investment in safety enhancements to encompass broader cultural considerations. 

 David Banmiller, former CEO of PanAm, emphasized the importance of prioritizing quality and people, during a recent CNBC interview. “Focus on investing in quality, investing in people, and building morale.” 

Boeing affirms its commitment to collaborating closely with stakeholders, including regulators, investors, and airlines, to address these critical issues. 

Sources:

David Banmiller interview with CNBC (March 25, 2024) 

Behind the Numbers

Tupperware's journey in the stock market has been quite a rollercoaster ride. In 2023, the appointment of Laurie Ann Goldman, former CEO of Avon North America and Spanx, as the new CEO marked a significant shift in the company's direction. This change coincided with the announcement of three new board members as part of Tupperware's strategic turnaround efforts.  

Last month, the company secured a forbearance agreement with its lender, involving a payment of $10.9 million to maintain access to revolving credit. Given Tupperware's long history, and current challenges, its origin story is particularly compelling. 

Tupperware's legacy as a supporter of women's entrepreneurship, particularly during a time when such ventures were rare, adds depth to its narrative. Notably, the pivotal role of Brownie Wise, an instrumental figure in the company's history, enriches this narrative.  

Sources:

Honoring Women’s History: The Woman Who Made the Tupperware Brand 

Earl Tupper, the visionary founder, displayed foresight by appointing Brownie Wise as Vice President. Wise, a single mother with extensive sales experience, introduced innovative marketing strategies, notably the "party" sales approach conducted in homes. This approach, marked by hosts, food, and friends, proved highly successful, prompting Tupper to welcome Wise into the organization. 

Wise's Tupperware Patio Parties eclipsed traditional in-store sales, leading her to recruit women to sell Tupperware within their networks. Despite initial challenges, including consumer perceptions of the product's usability, Wise introduced the "burping technique" to seal containers, demonstrating the method through personal demonstrations. As a result, Tupperware sales soared exponentially. 

By 1954, Tupperware's earnings reached an impressive $25 million, with Wise's innovative methods earning her widespread recognition. She appeared as the first woman on the cover of Business Week, solidifying her status as a trailblazer in sales and marketing. 

Wise's success underscores the importance of purposeful work for women, providing opportunities for meaningful contributions and economic empowerment. Her compassionate leadership style, combined with values of equality and inclusivity, fostered employee loyalty and innovation, propelling Tupperware to global prominence. 

However, Wise's tenure also serves as a cautionary tale, highlighting the need for women to safeguard their interests in professional settings. Despite her significant contributions, conflicts with Earl Tupper and her lack of ownership stakes ultimately led to her dismissal in 1958. 

Brownie Wise's legacy reminds us of the importance of advocating for recognition and equity in the workplace, ensuring that women's contributions are valued and acknowledged. 

Source:

 Schreane, Keesa. Corporations Compassion Culture. Hoboken, NJ : John Wiley & Sons , 2021. Pages 72-74. 

US and EU Climate Regulatory Insights: Download Now

DECODING THE GREEN FUTURE: Understanding New Climate Legislation Requirements, Interoperability, and Opportunities around Revenue Generation and Cost Reduction outlines specifics behind key European Union and U.S sustainability regulations. Additionally, it gives insight into how organizations can see revenue generation, while reducing costs through innovations. Whether you are in a sustainability, revenue, or operations role, the playbook gives insights to help  you deliver more value to  your business in a sustainable way. Download it here. 

Thanks for joining us this week. Please send questions, feedback, and pitches to [email protected] or just hit reply to this email.

FEATURED INSIGHT
For more on the year ahead, access our on-demand webinar, Navigating 2024: Climate, SFDR, and CSRD Regulations Webinar, featuring insightful commentary from experts at American Century Investments, ESG Global Advisors, Silver Regulatory Associates, and more. Watch here.