Shares of WW International Inc., better known as Weight Watchers, tumbled after hours on Wednesday, as the weight-loss platform said Oprah Winfrey planned to leave its board and donate her stake in the company after revealing that she used a weight-loss drug. Weight Watchers
WW,
+4.52%
said in a statement that Winfrey had decided not to stand for re-election at its annual shareholder meeting in May. Winfrey has served on the company’s board since 2015.
The TV and lifestyle megapersonality said she would continue to “advise and collaborate” with Weight Watchers and its chief executive, Sima Sistani, to bring greater awareness to obesity and reduce the stigma surrounding it. “Weight health is a critically important topic and one that needs to be addressed at a broader scale,” she said. “I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation.” Winfrey also said she would donate all of her shares in Weight Watchers to the National Museum of African American History and Culture. That decision, the company said, was intended to “highlight the contributions of African Americans and to eliminate any perceived conflict of interest” around her decision to take w …
Article Attribution | Read More at Article Source
WW,
+4.52%
said in a statement that Winfrey had decided not to stand for re-election at its annual shareholder meeting in May. Winfrey has served on the company’s board since 2015.
The TV and lifestyle megapersonality said she would continue to “advise and collaborate” with Weight Watchers and its chief executive, Sima Sistani, to bring greater awareness to obesity and reduce the stigma surrounding it. “Weight health is a critically important topic and one that needs to be addressed at a broader scale,” she said. “I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation.” Winfrey also said she would donate all of her shares in Weight Watchers to the National Museum of African American History and Culture. That decision, the company said, was intended to “highlight the contributions of African Americans and to eliminate any perceived conflict of interest” around her decision to take w …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]