Oprah Winfrey will depart WeightWatchers’ board of directors after nearly ten years, following the entertainment mogul’s admission that she uses a weight-loss medicine.
Winfrey informed the corporation this week that she will not seek reelection at the annual shareholder meeting in May 2024. She has been on the company’s board since 2015, when she purchased a 10% investment 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 stated in an e-mail.
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In December 2023, Winfrey informed People that she had decided to begin taking a weight-loss drug (which she did not name) after realizing that weight management is not simply dependent on 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 said in an interview with People.
According to WeightWatchers’ SEC filings, Winfrey’s agreement with the company states that she “will not engage in any other weight loss or weight management business, program, products, or services” during the period of her connection and for one year following.
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WW International’s shares plunged more than 20% on Friday following the announcement that Winfrey would be leaving the WeightWatchers board. With her departure, the company’s board will be reduced from ten to nine.
According to an SEC filing Thursday, Winfrey informed Weight Watchers on February 26 that she would not seek re-election as a board member at the company’s 2024 annual meeting of shareholders. In the words of the corporation, “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 announced that she will give her WeightWatchers membership 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 was quoted as saying.
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In a statement, the WeightWatchers board of directors stated that it “supports 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 assist the NMAAHC’s aim of promoting and highlighting the contributions of African Americans, as well as to eliminate any potential conflict of interest stemming from her use of weight loss drugs. Furthermore, Ms. Winfrey intends to contribute the earnings from any future exercise of her WW stock options to NMAAHC.”
Winfrey and WeightWatchers will organize a weight health event in May 2024, with “industry experts coming together to un-shame our relationship with weight,” according to the firm. “Weight health is a critical issue that needs to be addressed on a larger scale,” Winfrey said in a 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 ardent champion for our members, providing essential insights and wisdom that has helped shape WeightWatchers over the last eight years. On behalf of the Board, I’d want to express my gratitude for her energy and dedication, as well as her willingness to continue to serve as a collaborator and thought partner. I know one thing for certain: we will miss her presence on the board.
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