Los Angeles, California – Oprah Winfrey, a prominent figure in the weight-loss industry, has announced her decision to step down from the board of Weight Watchers. This move comes amidst the company’s struggle to compete with the rising popularity of weight-loss drugs. Winfrey, who has been on the board since 2015, revealed that she will not seek re-election at the upcoming shareholder meeting in May.
In a statement, Winfrey disclosed that she will continue to work with Weight Watchers to raise awareness about obesity as a chronic condition. She also mentioned her plans to donate all her shares in the company to the National Museum of African American History and Culture. As one of the largest shareholders in Weight Watchers, with a stake of around 10%, Winfrey’s departure marks a significant turning point for the company.
Winfrey’s association with Weight Watchers began nearly a decade ago when she joined the program and shared her weight-loss journey with other members. Her decision to leave the board coincides with Weight Watchers facing challenges in the weight-loss industry, particularly with the emergence of anti-obesity drugs like Wegovy and Ozempic. The company’s latest financial figures show a substantial net loss for the last quarter of 2023, reflecting the shifting landscape in the industry.
Additionally, Weight Watchers recently announced the acquisition of digital health company Sequence, emphasizing the importance of incorporating advancements in chronic weight management medications. The $132 million deal with Sequence enables members to access a range of services, including prescription medications like Ozempic and Wegovy, in addition to nutritional and behavioral support offered by Weight Watchers.
The departure of Oprah Winfrey from the board signals a new chapter for Weight Watchers as it navigates changes in the weight-loss industry. The company’s strategic efforts to adapt to evolving trends and technologies reflect a broader shift towards comprehensive approaches to weight management. As the industry continues to evolve, Weight Watchers aims to position itself as a leading provider of holistic weight-loss solutions in a competitive market landscape.