Oprah Winfrey is stepping down from the WeightWatchers board later this year, reducing the board from 10 to 9 members.
Her departure caused a 25.6% drop in shares.
“Her decision was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” her filing reads.
Despite leaving, she plans to collaborate with WeightWatchers on addressing obesity issues.
Winfrey, a board member since 2015, will donate her shares to charity.
“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,” Winfrey said.
Her departure was amicable, and the company praised her contributions over the years.
“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,” chairman Thilo Semmelbauer stated. “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.”
