Oprah Winfrey Says She's Stepping Down From WeightWatchers. Its Shares Are Cratering.

CBS News, CBS Los Angeles

February 29, 2024

Oprah Winfrey said she's stepping down from her role at WeightWatchers after serving on its board of directors for nine years. She also pledged to donate her financial stake in the weight-loss company to the National Museum of African American History and Culture.

Winfrey's announcement, issued late Wednesday, sent shares of WeightWatchers into a tailspin. The company's stock, which in 2021 topped $40, plunged 17% on Thursday to $3.18 in early morning trading.

Winfrey joining WeightWatchers in 2015 gave the weight-loss company a high-profile boost, with its shares more than doubling soon after the deal was announced. But in recent years, WeightWatchers and other diet companies have struggled amid a shift toward so-called GLP-1 drugs like Ozempic, which rely on hormones to control appetite and have helped people shed extra pounds.

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