Oprah Winfrey is leaving the Weight Watchers board

A fresh blow to a corporation that is finding it difficult to compete with the popularity of weight-loss medicines is Oprah Winfrey’s decision to resign from the Weight Watchers board. The well-known American, who has served on the company’s board since 2015, declared that she will not run for reelection during the upcoming shareholder meeting in May. Recently, Ms. Winfrey disclosed that she utilized medications for weight loss as a “maintenance tool.”In prolonged New York trading, Weight Watchers International’s shares dropped by 27%.

 

Weight Watchers will continue to collaborate with Ms. Winfrey, according to a statement she released, “in elevating the conversation around recognizing obesity as a chronic condition.” The well-known businesswoman and talk show host also declared that she will give the National Museum of African American History and Culture all of her company shares. With a roughly 10% ownership position in Weight Watchers, Ms. Winfrey is among the company’s largest stockholders.Ms. Winfrey joined the Weight Watchers program and shared her experiences with other members when she first began working for the firm about ten years ago. She had previously discussed her struggles with weight in public. Her departure from the board of directors coincides with a significant change in the weight-loss market following the introduction of anti-obesity medications like Wegovy and Saxenda.

 

Weight Watchers released its most recent financial data on Tuesday as well. It revealed a net loss of $88.1 million (£69.6 million) for the final three months of 2023—more than twice as much as it had over the same time the year before. The firm declared in March 2023 that, in light of “the advancements in chronic weight management medications,” it would acquire digital health startup Sequence “as a natural step.” Sequence bills itself as a weight-loss program that provides members with a range of services. It can also prescribe medications like Wegovy and Ozempic in addition to offering guidance from dietitians and fitness instructors.

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