Oprah Winfrey Steps Down from WeightWatchers Board, Donates Stock to Museum
Oprah Winfrey, renowned media mogul and long-standing director of WeightWatchers, is stepping down from the company’s board, marking the end of her nearly decade-long tenure. The announcement sent shockwaves through the market, with WeightWatchers’ stock experiencing a significant decline.
Winfrey conveyed her decision to the company earlier this week, indicating that she will not seek re-election at the upcoming annual shareholder meeting in May. While no specific reason was provided for her departure, WeightWatchers clarified in a regulatory statement that it was not due to any disagreement or operational issues.
Sima Sistani, CEO of WeightWatchers, expressed gratitude for Winfrey’s contributions, highlighting her role in advocating for weight health and societal well-being. Despite her departure from the board, Winfrey affirmed her commitment to collaborating with WeightWatchers and CEO Sima Sistani to address obesity as a chronic condition and promote health equity.
In a philanthropic gesture, Winfrey announced her intention to donate her sizable stake in the company to the National Museum of African American History and Culture.
WeightWatchers, which experienced a surge in relevance following Winfrey’s investment and board appointment in 2015, has faced intensified competition in recent times. The emergence of GLP-1 prescription drugs like Ozempic and Wegovy for weight loss has posed challenges to the company’s traditional model.
In response to this evolving landscape, WeightWatchers introduced new membership plans tailored for individuals using these prescription medications. Additionally, the company made strategic acquisitions, including the purchase of Sequence, a telehealth business specializing in virtual prescriptions for weight loss drugs.
While Winfrey’s departure marks a significant transition for WeightWatchers, the company remains focused on innovation and adaptation to meet the changing needs of its clientele. As Winfrey continues her advocacy efforts beyond her board role, her influence on conversations surrounding health and wellness is expected to endure.
