Oprah Winfrey will exit the board of Weight Watchers after almost 10 years. The entertainment mogul told the company this week that she wouldn’t stand for re-election at its annual shareholders meeting to be held in May 2024. Winfrey 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, per Variety.
According to WeightWatchers’ filings with the SEC, 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” while she’s with the company and for an additional year afterward. Following Winfrey’s recent announcement, shares of WW International fell more than 20% Friday. WeightWatchers specified that Winfrey’s decision to leave “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 all her shares 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.”
Despite her departure, Winfrey will still host an event on weight health with WeightWatchers in May. The event will feature “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.”
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