Oprah Winfrey Reveals Why She Quit WeightWatchers Board of Directors

Entertainment mogul and TV talk show host Oprah Winfrey recently revealed the reason behind her departure from the WeightWatchers board of directors, a position she held for nearly a decade. Winfrey cited concerns over a perceived conflict of interest as the driving factor behind her decision.

Winfrey announced in early 2024 that she would not seek reelection to the board at the annual shareholders’ meeting scheduled for May. Having first joined WeightWatchers in 2015 with a 10% stake in the company, her involvement played a significant role in the brand’s image and marketing strategies.

During an appearance on ABC’s “Jimmy Kimmel Live!” on Thursday, Winfrey explained that her departure was motivated by her desire to speak openly about weight-loss issues without any corporate constraints. The decision followed her 2023 revelation that she had started using a weight-loss drug, a move that garnered widespread media attention.

“I decided [to leave the WeightWatchers board] because this special was really important to me, and I wanted to be able to talk about whatever I want to talk about,” Winfrey said, referring to her upcoming ABC primetime special, An Oprah Special: Shame, Blame and the Weight Loss Revolution. The hour-long program, scheduled to air on March 18, will feature discussions with medical experts about weight-loss drugs like Ozempic, Mounjaro, and Wegovy.

Winfrey emphasized that WeightWatchers had evolved into a “weight-health company” that now includes prescription weight-loss drugs as part of its services. Last year, the company acquired Sequence, a telehealth subscription service offering access to healthcare providers who prescribe medications like Ozempic, in a deal worth $106 million. Winfrey’s exit ensures that she remains independent of the company’s pharmaceutical ventures.

To further eliminate any potential conflicts, Winfrey announced that she would donate her WeightWatchers shares to the National Museum of African American History and Culture (NMAAHC). “So nobody can say, ‘Oh, she’s doing that [ABC] special, she’s making money, and promoting…’ No, you cannot say that,” she told Kimmel.

Winfrey’s relationship with WeightWatchers began as a strategic partnership aimed at reshaping the company’s image. She initially purchased 6.4 million shares for $43.2 million, though her stake has since decreased to approximately 1.1 million shares, representing a 1.43% ownership valued at around $2.5 million, according to FactSet data.

In December 2023, Winfrey spoke candidly to People about her decision to use a weight-loss drug, stating that her perspective on weight management had changed. She acknowledged that maintaining a healthy weight is not solely a matter of willpower, a realization that aligned with the growing acceptance of medical interventions for weight loss.

The WeightWatchers board of directors issued a statement supporting Winfrey’s decision to donate her shares to NMAAHC. “Ms. Winfrey is making the donation to support the NMAAHC’s goal to promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight-loss medications,” the company said. Additionally, Winfrey intends to donate any future proceeds from her WeightWatchers stock options to the museum.

By stepping away from WeightWatchers, Winfrey positions herself as an independent voice in the evolving conversation about weight-loss treatments, ensuring she can engage in discussions without any financial entanglements.

Oprah Winfrey Reveals Why She Quit WeightWatchers Board of Directors

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Entertainment mogul and TV talk show host Oprah Winfrey said she decided to exit the board of directors WeightWatchers — after nearly a decade — to avoid the appearance of a conflict of interest.

Last month, Winfrey announced that she will not stand for reelection to the board of WeightWatchers at the annual meeting of shareholders to be held in May 2024. She has served on the company’s board since 2015 when she acquired a 10% stake in WeightWatchers.

On Thursday’s episode of ABC’s “Jimmy Kimmel Live!”, Winfrey explained that her decision to part ways with WeightWatchers was due to her desire to “be able to talk about whatever I want to talk about” regarding weight-loss issues. Her exit from the company’s board came after she revealed in 2023 that she was taking a weight-loss drug.

Winfrey has set an hour-long ABC primetime special, titled “An Oprah Special: Shame, Blame and the Weight Loss Revolution,” scheduled to air Monday, March 18. She recorded the special in front of a live studio audience and brought together medical experts to discuss weight-loss drugs such as Ozempic, Mounjaro and Wegovy.

Winfrey told Kimmel, “I decided [to leave the WeightWatchers board] because this special was really important to me, and I wanted to be able to talk about whatever I want to talk about.” WeightWatchers “is now in the business of being a weight-health company that also administers drug medications for weight. I did not want to have the appearance of any conflict of interest.”

Last year, WeightWatchers acquired Sequence, a telehealth subscription service providing access to healthcare providers who can prescribe weight-loss drugs like Ozempic, for $106 million.

As previously announced, Winfrey is donating her WeightWatchers shares to the National Museum of African American History and Culture. She told Kimmel she was gifting her stock in the company to the organization “so nobody can say, ‘Oh, she’s doing that [ABC] special, she’s making money, and promoting…’ No, you cannot say that.”

In December 2023, Winfrey told People she had decided to start taking a weight-loss medication (which she did not identify) after coming to the realization that weight management does not depend solely on a person’s self-control.

Winfrey owns about 1.1 million shares of WW International, representing a 1.43% stake in the company, according to data provider FactSet. At the current stock price, that’s worth $2.5 million. Her initial investment for 6.4 million shares of the company totaled $43.2 million.

In a statement last month, the WeightWatchers board of directors said it is “supportive of Ms. Winfrey’s proposal to donate all of her WW stock to the NMAAHC during the company’s upcoming trading window in March 2024. Ms. Winfrey is making the donation to support the NMAAHC’s goal to promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight-loss medications. In addition, Ms. Winfrey intends to donate the proceeds from any future exercises of her WW stock options to NMAAHC.”