WeightWatchers Shares Take A Dive After Oprah Winfrey Announces Board Departure

WeightWatchers is seeing a drop in its share stock amid Oprah Winfrey's departure announcement from the company's board of directors.

WeightWatchers is seeing a drop in its share stock amid Oprah Winfrey’s departure announcement from the company’s board of directors.

Shares of the weight loss program dropped over 25% on Thursday, Feb. 29, after Winfrey announced her decision to end her board membership, ABC News reports. The billionaire media mogul, who has served on the board since 2015, will not stand for reelection at an upcoming board meeting in May.

As part of her departure announcement, Winfrey revealed her plans to donate her financial interest in WeightWatchers to the National Museum of African American History and Culture in Washington, D.C. She will also continue being a “support” to the company by serving as an awareness advocate on obesity.

“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 said.

“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.”

“I have been a long-time supporter of this worthy organization, and I am proud to continue my support,” she added after sharing her donation plans.

Her departure from the WeightWatchers board comes a few months after she admitted to using a weight-loss drug to shed unwanted weight.

“The fact that there’s a medically approved prescription for managing weight and staying healthier, in my lifetime, feels like relief, like redemption, like a gift, and not something to hide behind and once again be ridiculed for,” she told People in December. “I’m absolutely done with the shaming from other people and particularly myself.”

She avoided naming the specific weight loss drug she takes but did reveal her usage is only “as I feel I need it, as a tool to manage not yo-yo-ing,” her weight.

WeightWatchers confirmed that Winfrey’s board departure had nothing to do with “any disagreement” or “any matter relating to the company’s operations, policies or practices.”