WeightWatchers shares drop after Oprah Winfrey announces board departure

WeightWatchers is experiencing a significant downturn, with shares dropping over 25% following the announcement that Oprah Winfrey will be stepping down from the company’s board of directors.  Since investing $43 million in the company and joining the board in 2015, Winfrey has been a prominent figure in Weight Watchers’ brand and marketing strategies.

“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.

The news arrives months after Winfrey disclosed her use of weight loss drugs, describing them as “a maintenance tool.” In a move reflecting her ongoing philanthropic efforts, the former talk show host has announced her intention to donate all of her Weight Watchers stock to the National Museum of African American History and Culture.

Data shows Winfrey owned 1.13 million shares worth $6.34 million.