OAN’s Sophia Flores
12:53 PM – Friday, March 1, 2024
Oprah Winfrey will be leaving the board of the weight loss and maintenance brand WeightWatchers, which will reportedly go into effect later this year.
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On Thursday, the former talk show host announced that she will leave the board of the company after being involved for almost 10 years. She first joined the WeightWatchers board in 2015, when she acquired a 10% stake in the company.
“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.
The announcement comes after Oprah had admitted that she used a popular weight-loss drug, such as Ozempic or Wegovy, to trim down her figure back in December. However, she did not specify which one.
Due to this admittance, Winfrey breached her contract with WeightWatchers, as she previously vowed to “not engage in any other weight loss or weight management business, program, products or services” during the term of her relationship with the company and for one year afterward.
Oprah said that she will donate her WeightWatchers shares that are worth 6.3 million to the National Museum of African American History and Culture (NMAAHC).
“I have been a long-time supporter of this worthy organization, and I am proud to continue my support,” she said.
The museum released a statement after Oprah announced the donation.
“Ms. Winfrey is making the donation to support the NMAAHC’s goal to promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight loss medications,” the company said. “In addition, Ms. Winfrey intends to donate the proceeds from any future exercises of her WW stock options to NMAAHC.”
She currently owns 1.1 million shares of WW International, which is equivalent to a 1.43% stake in the company.
Thilo Semmelbauer, chairman of the board, released a press release thanking Oprah for her time with the company.
“Oprah has been an inspiring presence and passionate advocate for our members, providing critical insights and counsel that has helped shape WeightWatchers over these last 8 years,” he said. “On behalf of the Board, I would like to thank her for her energy, dedication, and for continuing to play a role as collaborator and thought partner going forward. What I know for sure, we will dearly miss her presence on the Board.”
Board shares of WW International fell more than 20% after her announcement.
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