After nine years on the board, she announced she’s stepping down and donating her stock.
Oprah Winfrey is stepping down from the WeightWatchers board after nine years, the company announced on Wednesday. The media mogul revealed that she will be donating her financial stake in the company to the National Museum of African American History and Culture, which is something I didn’t know you could do until today. Rich people know so much about money.
“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 in a statement put out by the weight-loss company, going on to say that she still plans to “participate in a number of public forums and events” where she can discuss weight health. So she’s breaking up with WeightWatchers but still wants to be friends.
Winfrey’s decision comes just a few months after she revealed she was taking medication to lose weight — she declined to name which one. “I’m absolutely done with the shaming from other people and particularly myself,” she told People. WeightWatchers recently got into the GLP-1 game after acquiring the telehealth company Sequence, which allows people access to weight-loss drugs.
In its press release, WeightWatchers noted that Winfrey’s donating her shares to the NMAAHC was in part to “eliminate any perceived conflict of interest around her taking weight-loss medications.” In the wake of the announcement, WeightWatchers’ stock tanked 17 percent. According to CBS News, Winfrey owns 1.4 percent of the company’s shares, which is worth about $4.1 million today.
Well, RIP to this iconic pairing. Let’s take a moment to think back on all the great times we had together. There was Oprah’s famous “I love bread” commercial. There was … nope, that’s actually it, I think. At least they’ll always have bread.
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