Oprah Winfrey to Exit WeightWatchers Board After She Announced Use of Weight-Loss Drug (2024)
Oprah Winfrey will leave the board of WeightWatchers after almost 10 years, following the entertainment mogul’s revelation that she is using a weight-loss drug.
Winfrey informed the company this week that she decided to not stand for reelection at the annual meeting of shareholders to be held in May 2024. She has served on the company’s board since 2015 when she acquired a 10% stake in WeightWatchers.
“I look forward to continuing to advise and collaborate with WeightWatchers and CEO Sima Sistani in elevating the conversation around recognizing obesity as a chronic condition, working to reduce stigma, and advocating for health equity,” Winfrey said in a statement.
In December 2023, Winfrey told People she had decided to start taking a weight-loss medication (which she did not identify) after coming to the realization that weight management does not hinge solely on a person’s self-control. “The fact that there’s a medically approved prescription for managing weight and staying healthier, in my lifetime, feels like relief, like redemption, like a gift, and not something to hide behind and once again be ridiculed for,” she told People.
Winfrey’s agreement with WeightWatchers specifies that she “will not engage in any other weight loss or weight management business, program, products or services” during the term of her relationship with the company and for one year afterward, according to the company’s filings with the SEC.
After the disclosure that Winfrey will leave WeightWatchers’ board, shares of WW International fell more than 20% Friday. With her departure, the company’s board will be reduced from 10 members to nine.
On Feb. 26, Winfrey notified Weight Watchers that she would not be standing forre-electionas a member of the board at the company’s 2024 annual meeting of shareholders, per an SEC filing Thursday. According to the company, “Her decision was not the result of any disagreement with the company on any matter relating to the company’s operations, policies or practices.”
Winfrey said she will donate her interest in WeightWatchers to the National Museum of African American History and Culture. “I have been a long-time supporter of this worthy organization, and I am proud to continue my support,” she said.
In a statement, the board of directors of WeightWatchers said it is “supportive of Ms. Winfrey’s proposal to donate all of her WW stock to the NMAAHC during the company’s upcoming trading window in March 2024. Ms. Winfrey is making the donation to support the NMAAHC’s goal to promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight-loss medications. In addition, Ms. Winfrey intends to donate the proceeds from any future exercises of her WW stock options to NMAAHC.”
Winfrey owns about 1.1 million shares of WW International, representing a 1.43% stake in the company, according to data provider FactSet. At the current stock price, that’s worth less than $3.5 million. Her initial investment for 6.4 million shares of the company totaled $43.2 million.
In May 2024, Winfrey and WeightWatchers will host an event on weight health featuring “industry experts coming together to un-shame our relationship with weight,” according to the company. “Weight health is a critically important topic and one that needs to be addressed at a broader scale,” Winfrey said in the statement. “I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation.”
WW International chairman Thilo Semmelbauer said in a statement, “Oprah has been an inspiring presence and passionate advocate for our members, providing critical insights and counsel that has helped shape WeightWatchers over these last 8 years. On behalf of the Board, I would like to thank her for her energy, dedication, and for continuing to play a role as collaborator and thought partner going forward. What I know for sure, we will dearly miss her presence on the board.”
Last year, WeightWatchers acquired Sequence, a telehealth subscription service providing access to healthcare providers who can prescribe weight-loss drugs like Ozempic, for $106 million.
Oprah Winfrey will leave the board of WeightWatchers
WeightWatchers
WW International, Inc., formerly Weight Watchers International, Inc., is a global company headquartered in the U.S. that offers weight loss and maintenance, fitness, and mindset services such as the Weight Watchers comprehensive diet program.
https://en.wikipedia.org › wiki › WW_International
after almost 10 years, following the entertainment mogul's revelation that she is using a weight-loss drug. Winfrey informed the company this week that she decided to not stand for reelection at the annual meeting of shareholders to be held in May 2024.
Oprah Winfrey has revealed why she left her nearly 10-year post as a WeightWatchers board member last month. Her resignation was motivated by her work on an upcoming TV special on the rise of prescription weight-loss drugs, she said during a Thursday appearance on “Jimmy Kimmel Live!”
MORE: Oprah Winfrey confirms she's on a weight-loss medication, says she's tired of 'shaming' Wegovy, a medication that contains the same main ingredient, semaglutide, as Ozempic, is FDA-approved for weight loss.
Oprah Winfrey Leaves WeightWatchers Board After Disclosing Use of Weight Loss Medication. Winfrey will donate all her shares in the company to the National Museum of African American History and Culture "to eliminate any perceived conflict of interest around her taking weight loss medications."
The stock position instantly made Winfrey an owner of 14.79% of Weight Watchers, while diluting the ownership positions of other shareholders. But most were probably cheering along with Winfrey when the stock immediately more than doubled to close at $13.92. The stock kept soaring, hitting $101 in 2018.
Weightwatchers offers a lifestyle guidance program for those already taking anti-obesity meds prescribed from their own doctor. WeightWatchers members may also be eligible to receive Ozempic and Rybelsus and other Type 2 diabetes drugs often prescribed off label to treat obesity.
Oprah Winfrey hosted a new TV special highlighting the use of GLP-1 weight loss drugs and the obesity epidemic. On the special, Winfrey invited medical professionals to discuss how the drugs worked and why obesity is a disease, not a character flaw.
How did Oprah lose weight? Winfrey has lost her latest weight using a weight-loss drug and with a healthy diet and exercising. She told People the weight-loss medication is just part of her regimen for maintaining a healthy weight. “I know everybody thought I was on it, but I worked so damn hard.
Reasons Behind Weight Watchers Studio Closures and Changes. Decreased attendance at in-person studios: With the rise of virtual support options, there has been a decrease in attendance at in-person studios. Members are now looking for more flexible options to support their weight loss goals.
Adele divided her workouts into several routines per day to achieve her weight loss goals. "I got quite addicted to it," she admitted to British Vogue in 2021. “So I do my weights in the morning, then I normally hike or I box in the afternoon, and then I go and do my cardio at night," she said.
Walking, eating a healthy mix of foods, and enjoying occasional treats are among some of the methods she's used to shed pounds. The singer also says she uses infrared saunas and cold plunges. “Walking in the city is quite the workout.
Oprah Winfrey resigned from the WeightWatchers board after almost 10 years to avoid a conflict of interest. During her appearance on “Jimmy Kimmel Live!” last week, Winfrey explained why she stepped down ahead of her upcoming special, “An Oprah Special: Shame, Blame and the Weight Loss Revolution.”
GK said she regularly hits the treadmill, undergoes strength training and eats a healthy diet. She also gave WeightWatchers a nod, confirming she's been on the weight loss program for years.
Oprah Winfrey resigned from WeightWatchers board because of 'conflict of interest' Oprah Winfrey resigned from the WeightWatchers board after almost 10 years to avoid a conflict of interest.
WeightWatchers embracing weight-loss drugs and closing more locations. After decades of emphasizing personal responsibility and behavior change, WeightWatchers is embracing clinical weight loss treatments and is cutting back on the in-person meetings that once defined the company.
Jean Evelyn Nidetch (October 12, 1923 – April 29, 2015) was an American businessperson and the founder of Weight Watchers. Brooklyn, New York, U.S. Parkland, Florida, U.S. She died on April 29, 2015, of natural causes at her home in Parkland, Florida, at the age of 91.
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