Title: Oprah Winfrey Steps Down from WeightWatchers Board: A Decade of Inspirational Advocacy Comes to an End
Oprah Winfrey, the renowned media executive and philanthropist, has announced her departure from the board of WeightWatchers, marking the end of a near-decade tenure with the beleaguered company. Winfrey’s decision was made known earlier this week, and she will not stand for re-election at the upcoming annual shareholder meeting scheduled in May.
The statement from WeightWatchers revealed that Winfrey’s decision was not influenced by any disagreement or operational matters concerning the company. Sima Sistani, the CEO of WeightWatchers, expressed her gratitude for Winfrey’s unwavering support and advocacy during her time on the board. “Oprah is an inspiring presence, and we will dearly miss her in our board meetings,” said Sistani to investors during a recent call.
In a statement released to the public, Winfrey announced that she would be donating her entire WeightWatchers stock to the National Museum of African American History and Culture. The media mogul’s departure comes amidst a challenging time for WeightWatchers, with shares (WW) plummeting 25% in premarket trading on Thursday and down 85% over the last six months if the premarket losses hold.
Since joining the board of WeightWatchers in 2015, Winfrey’s presence brought significant relevance to the company as more people opted for simpler dieting alternatives over counting points. However, WeightWatchers has faced increased competition in recent times from GLP-1 prescription drugs such as Ozempic and Wegovy, which are sometimes used for weight loss.
To counter the competition, WeightWatchers introduced a new membership plan aimed at individuals taking these drugs. The membership provides access to doctors who can prescribe these medications, daily nutrition plans, insurance coordination, and various weight loss support programs. In addition, the company made a substantial $100 million-plus deal to acquire Sequence, a telehealth business offering virtual prescriptions for appropriate weight loss drug patients.
Winfrey herself has reportedly added a “weight-loss medication to her regimen.” However, she did not specify which drug in an interview with People Magazine last year.
Winfrey’s advocacy for recognizing obesity as a chronic condition, reducing stigma, and promoting health equity will continue, with her stating that she looks forward to collaborating and advising WeightWatchers in these areas.
Despite the challenges, WeightWatchers continues its mission to help individuals live healthier lifestyles, and Winfrey’s departure marks a new chapter for the company as it navigates the evolving weight loss industry landscape.
