Oprah Winfrey’s departure from the board of Weight Watchers deals a fresh blow to a company struggling against the rise of weight-loss drugs.
The renowned US celebrity, who joined the board in 2015, announced she won’t seek re-election at the upcoming shareholder meeting in May.
Winfrey recently disclosed using weight-loss drugs as a “maintenance tool,” prompting a 27% drop in Weight Watchers International shares during extended New York trade.
In her statement, Winfrey expressed her commitment to continue working with Weight Watchers to raise awareness about obesity as a chronic condition. Additionally, she pledged to donate all her shares to the National Museum of African American History and Culture.
Winfrey, a significant shareholder with around 10% stake, initially joined Weight Watchers nearly a decade ago, sharing her journey with members and discussing her struggles with weight publicly.
Her departure coincides with Weight Watchers grappling with industry shifts due to the emergence of anti-obesity drugs like Wegovy and Ozempic.
Weight Watchers also reported a net loss of $88.1 million for the last quarter of 2023, doubling compared to the same period the previous year.
In March 2023, the company announced acquiring digital health firm Sequence to adapt to changes in chronic weight management. Sequence offers a comprehensive weight loss program, including advice from fitness coaches and dietitians, and the ability to prescribe drugs like Ozempic and Wegovy.
Weight Watchers CEO Sima Sistani sees the $132 million deal as a strategic move, allowing members to benefit from nutrition and behavior-change programs alongside prescription medications.
