Consumer
WeightWatchers Plunges on Oprah Winfrey’s Board Departure
- Winfrey joined board in 2015, won’t stand for re-election
- Company’s 2024 revenue forecast falls short of expectations
Oprah Winfrey
Photographer: Michael Tran/AFP/Getty ImagesThis article is for subscribers only.
WW International Inc. shares plunged after Oprah Winfrey said she’s preparing to leave its board, the latest blow to the obesity-focused company that’s struggling to stay relevant in the Ozempic era.
Winfrey, whose relationship with the company goes back nearly a decade, said Wednesday that she would not stand for re-election at WW’s May shareholder meeting. Shares of WW, also known as WeightWatchers, fell as much as 27% when US markets opened Thursday. At $2.79 a share, they reached their lowest point since they began trading in 2001.