Oprah Winfrey to Exit Board of Weight Watchers

In a fresh blow to a company struggling to compete against the popularity of weight-loss drugs, Oprah Winfrey is set to exit the board of Weight Watchers.

The US celebrity, said she would not stand a chance for re-election at its next shareholder meeting in May. 

Ms Winfrey, who has been on the firm's board since 2015, recently revealed that she used weight-loss drugs as a "maintenance tool."

Although shares in Weight Watchers International fell by 27% in extended New York trade, Winfrey noted in a statement that she would continue to work with Weight Watchers "in elevating the conversation around recognizing obesity as a chronic condition."

The influential talk show host and businesswoman also said she will donate all her shares in the firm to the National Museum of African American History and Culture.

Ms Winfrey is one of the biggest shareholders in Weight Watchers with a stake of around 10%.

When Ms Winfrey started working with the company almost a decade ago, she joined the Weight Watchers programme and shared her experiences with other members. She had previously spoken publicly about her battles with weight.

Her decision to leave the board comes as the company contends with a major shift in the weight-loss industry after the launch of anti-obesity drugs like Wegovy and Ozempic.

Also on Tuesday, Weight Watchers published its latest financial figures, which showed a net loss of $88.1m (£69.6m) for the last three months of 2023, more than twice as much as the same period the previous year.

In March 2023, the company revealed its acquisition plans for Sequence, a digital health company, citing it as a logical progression due to advancements in chronic weight management medications. 

Sequence, identified as a weight loss program, provides subscribers with a range of services, including guidance from fitness coaches and dietitians, along with the ability to prescribe medications like Ozempic and Wegovy. 

Weight Watchers CEO Sima Sistani mentioned that the $132 million deal aims to combine their emphasis on nutrition and behavior change with the benefits of prescription medications for members

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