Weight Watchers Stock Plummets Following Oprah’s Departure

The company recently experienced a significant downturn, with a decline of approximately 27 percent. This substantial decrease is a major setback for a company that has been grappling with challenges for an extended period. The news of Oprah Winfrey’s departure from the board of the diet organization was a shock to many investors. Winfrey, who had been associated with the company for a span of eight years, is not seeking re-election for a new term. Her current term is set to conclude in May.

In the past, the collaboration between Oprah and Weight Watchers seemed a logical move. Given Winfrey’s lifelong struggle with weight issues, it was widely understood why she’d align herself with a weight management company. However, as it later emerged, Winfrey relied on more than just Weight Watchers for her weight loss journey. Despite initial resistance, she admitted to People Magazine that she also used slimming pills. This revelation was somewhat of a setback for Weight Watchers.

In addition to her role on the board, Winfrey also held a ten percent stake in Weight Watchers. This stake was valued at over 16.6 million euros just prior to the announcement. Winfrey has announced that she intends to donate her shares in the organization to the National Museum of African American History and Culture.

( tove)