Oprah Winfrey exits WeightWatchers board, shares plummet greater than 25% – Nationwide


Oprah Winfrey introduced Wednesday that she’s going to depart her function on the WeightWatchers board of administrators, solely two months after the speak present host publicly revealed she was taking a weight-loss remedy.

Winfrey, who has for the final 9 years been extensively thought of the face of WeightWatchers, joined the corporate’s board of administrators in 2015. A press launch from WeightWatchers stated Winfrey, 70, determined to not stand for re-election.

The announcement of Winfrey’s departure despatched WeightWatchers shares plummeting. Throughout premarket buying and selling on Thursday, shares within the weight-loss firm plunged greater than 25 per cent.

Winfrey pledged to donate her WeightWatchers inventory to the Nationwide Museum of African American Historical past and Tradition (NMAAHC) in Washington, D.C. The talk-show mogul owns a ten per cent stake within the firm.

“I sit up for persevering with to advise and collaborate with WeightWatchers and CEO Sima Sistani in elevating the dialog round recognizing weight problems as a persistent situation, working to cut back stigma, and advocating for well being fairness,” Winfrey stated in an announcement.

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“Weight Well being is a critically essential subject and one which must be addressed at a broader scale. I plan to take part in a lot of public boards and occasions the place I might be a vocal advocate in advancing this dialog.”

The WeightWatchers board of administrators stated it’s “supportive” of Winfrey’s choice to donate her inventory within the firm. The board wrote that Winfrey’s goal in donating her shares to NMAAHC is to “spotlight the contributions of African People and to eradicate any perceived battle of curiosity round her taking weight reduction medicines.”

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In December 2023, Winfrey advised Individuals journal she was utilizing an unnamed weight-loss drug as a “upkeep device” for her fluctuating weight. The disclosure got here after Winfrey’s social media followers speculated that the star could also be taking Ozempic or one other comparable remedy.

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Winfrey advised Individuals she made the choice to take a medicine that induces weight reduction after being “blamed and shamed” for her weight throughout her 25-year profession.

“I spotted I’d been blaming myself all these years for being obese, and I’ve a predisposition that no quantity of willpower goes to manage,” she stated. “Weight problems is a illness. It’s not about willpower — it’s in regards to the mind.”

Winfrey stated she “launched my very own disgrace” and reached out to her physician to inquire about remedy choices.

“I now use it as I really feel I would like it, as a device to handle not yo-yoing,” she stated. “The truth that there’s a medically authorised prescription for managing weight and staying more healthy, in my lifetime, seems like reduction, like redemption, like a present, and never one thing to cover behind and as soon as once more be ridiculed for.”

Alongside her remedy, Winfrey stated she nonetheless makes use of the WeightWatchers point-counting methodology and drinks a gallon of water day-after-day.

Thilo Semmelbauer, chairman of the WeightWatchers board, stated Winfrey has been an “inspiring presence and passionate advocate” inside the group. He thanked Winfrey for her “power, dedication, and for persevering with to play a task as collaborator” with the model.

Winfrey will donate her inventory throughout the firm’s upcoming buying and selling window in March.

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WeightWatchers’ newest monetary report on Wednesday confirmed a complete lack of US$88.1 million within the firm’s fourth quarter of 2023. WeightWatchers’ gross revenue for a similar quarter got here in at US$124.9 million.

Income for the complete 2023 fiscal 12 months reached US$889.6 million, nearly 15 per cent lower than the 12 months prior, the corporate reported.

Final 12 months, WeightWatchers dipped its toe within the weight-loss drug recreation and bought Sequence, a telehealth supplier that provides customers entry to medication used to deal with diabetes and weight problems, together with Ozempic.

Attributable to fashionable demand, the producers of a number of diabetes medication, together with Ozempic, have skilled shortages which have continued into 2024.

Click to play video: 'Ozempic shortage impact on Canadian patients with Type 2 diabetes'

Ozempic scarcity impression on Canadian sufferers with Kind 2 diabetes

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