Oprah Stepping Down From WeightWatchers Board of Directors

She might be leaving the board but she owns a majority of the company.

She owns about 0.5%.

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WeightWatchers and other diet companies have struggled amid a shift toward so-called GLP-1 drugs like Ozempic, which rely on hormones to control appetite and have helped people shed extra pounds.

The weight loss company, which was founded in the early 1960s, has seen its financial results deteriorate in recent years. Its revenue in 2023 tumbled almost 15% to $889.6 million from the previous year, while it lost $112 million.

Winfrey owns about 1.4% of the company's shares, or about 1.3 million shares, according to financial data provider FactSet. At today's stock price, that values her stake at about $4.1 million — a far cry from her initial investment of $43.2 million for 6.4 million share

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The media star's decision comes after she disclosed last year that she relies on these drugs to maintain her weight. Winfrey told People magazine in December that she "released my own shame about it" and went to a doctor to get a prescription, although she didn't disclose the name of the medication she relies on. Winfrey added, "I now use it as I feel I need it, as a tool to manage not yo-yoing."

WeightWatchers, officially named WW International, last year moved into the prescription weight-loss drug business by purchasing Sequence, a telehealth provider that offers users access to GLP-1 drugs. It also debuted WeightWatchers GLP-1, a subscription program for people using that class of drugs.


In her statement, Winfrey said she will continue "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 she's donating her shares in WeightWatchers to the National Museum of African American History and Culture, a Smithsonian institution in Washington, D.C., as she's been a long-time supporter of the organization.


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Now that is interesting. I'm going to have to think about that for a bit.
 
This could be nothing really, but it could also mean some one other than Biden on democrat ticket.

Yes and as she stepped down the enormous pressure placed on the floor by the concentration of mass on small area collapsed the floor board.
 
She cut her loss and moved on probably anticipating a class action if the company goes kaput.
 

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