Oprah Winfrey’s decision to step down from the board of WeightWatchers after eight years comes at a challenging time for the company. Amid financial losses and increasing competition from weight-loss drugs, Winfrey’s departure marks a significant shift for the organization.
The announcement that Winfrey will not seek reelection at the company’s shareholder meeting in May has already had an impact on the company’s stock prices, which fell more than 27 percent in post-market trading. Despite this setback, Winfrey expressed her commitment to continue working with the company to raise awareness about obesity as a chronic condition and advocate for health equity.
WeightWatchers, now known as WW International, has faced stiff competition from injectable weight-loss drugs such as Ozempic, Wegovy, and Mounjaro, which have gained popularity worldwide in recent years. This competition, coupled with the company’s financial challenges, has put pressure on WeightWatchers to adapt and innovate in a rapidly evolving market.
In 2023, WeightWatchers reported a loss of over $88 million, more than double the previous year’s losses. In response to this downturn, the company has made strategic moves such as acquiring health company Sequence and launching WeightWatchers Clinic to provide access to prescription weight-loss drugs and medical interventions.
Winfrey’s personal experiences with weight loss and body image have been well-documented, with the media mogul candidly sharing her struggles with yo-yo dieting and appearance. Her decision to donate her stock in WeightWatchers to the National Museum of African American History and Culture reflects her dedication to causes she cares about deeply.
As the company navigates these challenges and transitions, the WeightWatchers board has expressed support for Winfrey’s decision and thanked her for her contributions to the organization. Moving forward, WeightWatchers faces the task of reshaping its strategies and offerings to stay competitive in a rapidly evolving industry landscape.