NEW YORK - Oprah Winfrey, a board member of WW International, Inc. (NASDAQ:WW), commonly known as WeightWatchers, will not seek re-election at the company's annual shareholder meeting in May 2024, the company announced today.
Winfrey, who has been on the board since 2015, is set to donate her financial interest in the company to the National Museum of African American History and Culture (NMAAHC).
Winfrey's decision to step down aligns with her commitment to advocate for weight health and address obesity as a chronic condition. She plans to remain involved with WeightWatchers in an advisory capacity and will continue to work towards reducing stigma and advocating for health equity.
"Weight Health is a critically important topic and one that needs to be addressed at a broader scale," Winfrey stated.
In addition to her departure from the board, Winfrey will donate her WeightWatchers stock during the company's trading window in March 2024. This move is intended to support the NMAAHC's mission and to address any perceived conflict of interest due to her taking weight loss medications. Proceeds from any future exercises of her WW stock options will also be donated to the museum.
Thilo Semmelbauer, Chairman of the WeightWatchers Board, expressed gratitude for Winfrey's contributions and her ongoing role as a collaborator and thought partner. An event hosted by Winfrey and WeightWatchers in May will focus on changing the perception of weight health and feature industry experts.
WeightWatchers, a technology company with a focus on weight loss and management programs, combines technology and community to support its members' health goals.
This news is based on a press release statement and comes with a standard caution regarding forward-looking statements, advising readers to consult the company's filings with the United States Securities and Exchange Commission for further details.
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