Oprah Winfrey has decided to step down from the board of directors of WeightWatchers.
According to reports, Winfrey will not be up for re-election during the board’s upcoming shareholder meeting. In a statement, Winfrey said, “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.”
She also revealed that she will donate her stock in the company to the National Museum of African American History and Culture. “I have been a long-time supporter of this worthy organization, and I am proud to continue my support,” Winfrey’s press release said. She also said that she will also be a “vocal advocate” on the issue of weight health.
The company’s board of directors are in support of Winfrey’s decision to donate her shares and says that the donation will “promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight loss medications.”
Oprah Winfrey also revealed that she is taking a weight loss drug but didn’t say which one. In a previous interview, she said that she felt shame for not being able to lose weight. “I had an awareness of medications, but felt I had to prove I had the willpower to do it,” she told the publication. “I now no longer feel that way.”
Throughout the years, she has been open about her struggles with weight loss and invested in WW in 2015 and when she announced that she would take a 10% stake in the company its stock prices went up.
“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,” Thilo Semmelbauer, chairman of the board, said in the news release. “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.”
The shares recently dropped dramatically after Oprah’s announcement. What are your thoughts about this?