Oprah Winfrey will officially be leaving the WeightWatchers board this May after the use of weight-loss medication was disclosed.
The former host and media titan joined the board back in 2015. As of her exit, the “Oprah Winfrey Show” alum will be donating her shares in the company, whose formal name is WW International, to the National Museum of African American History and Culture. Winfrey has been a long standing supporter of the museum.
The share donation is an effort “to eliminate any perceived conflict of interest around her taking weight loss medications,” the company said in a statement released.
“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,” said Oprah Winfrey.
“Weight Health is a critically important topic and one that needs to be addressed at a broader scale. I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation,” continued Winfrey. “In addition, I have decided to donate my interest in WeightWatchers to the National Museum of African American History and Culture (“NMAAHC”). I have been a long-time supporter of this worthy organization, and I am proud to continue my support.”
As of January, Winfrey stated in a regular filing that she owned 1.1 million shares of the company. As of now, the value holds roughly $3.4 million, which is far different from the $43 million stake she bought before joining the board.
The news cratered shares of WW International, which gave up 79 cents, or 20.7%, to $3.03 in heavy trading Thursday.
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Winfrey as recently as September called drugs like Ozempic that have swept the nation in the past few years “the easy way out” when it comes to dropping pounds. But in December, People Magazine revealed she was using a drug as a “maintenance tool.”
In May, Oprah Winfrey and WeightWatchers will be hosting an event on Weight Health. The event will feature industry experts coming together to un-shame our relationship with weight.
Winfrey said in the statement she will continue to advise and collaborate with the company “in elevating the conversation around recognizing obesity as a chronic condition, working to reduce stigma, and advocating for health equity.”
“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. 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,” said Thilo Semmelbauer, Chairman of the Board.
