Tags: oprah winfrey | weight watchers | investment | loss

Oprah Winfrey Weight Watchers Stake Is $117 Million Lighter

Image: Oprah Winfrey Weight Watchers Stake Is $117 Million Lighter

Oprah Winfrey arrives at the season one premiere of "Greenleaf" at The Lot in West Hollywood on June 15. (Willy Sanjuan/Invision/AP, File)

By    |   Thursday, 15 Sep 2016 05:58 AM

Oprah Winfrey might have lost nearly 30 pounds by using Weight Watchers, but she probably didn’t expect to lose $117 million from a 10 percent investment in the company just months after she came on board.

Shares of the company were at a high in November 2015, boosted by enthusiasm over Oprah’s involvement with Weight Watchers, but since then, the company’s shares have dropped 66 percent, losing $1.2 billion in value, according to USA Today.

The drop in market value led to Weight Watchers announcing that its CEO James Chambers will resign at the end of September, according to Forbes. This leaves the running of the company temporarily in the hands of Chief Financial Officer Nicholas Hotchkin and two board members.

After the news, Weight Watchers’ “stock fell by 5.4 percent after hours to $9.80, well below the high-water mark of $28 last November, and only slightly higher than its $6.79 price before Winfrey announced her partnership with the company,” The Wrap noted.

Investors now value the company at a little more than $600 million, which is discouraging news for Weight Watchers as they once experienced a 300 percent jump within weeks after Oprah joined the diet company.

“Board members, including Oprah Winfrey and myself, will be actively involved in the search for a new CEO, and look forward to working with her or him in shaping the future of Weight Watchers,” Weight Watchers Chairman Ray Debbane said in a statement.

Oprah has been very upfront about her struggles to maintain weight loss, which is part of the reason why she became such a great face for Weight Watchers.

According to Daily Mail, in a 2009 issue of O Magazine, Winfrey wrote: “My goal isn’t to be thin. My goal is for my body to be…strong and healthy and fit, to be itself. My goal is to learn to embrace this body and to be grateful every day for what it has given me.”

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Oprah Winfrey might have lost nearly 30 pounds by using Weight Watchers, but she probably didn't expect to lose $117 million from a 10 percent investment in the company just months after she came on board.
oprah winfrey, weight watchers, investment, loss
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2016-58-15
Thursday, 15 Sep 2016 05:58 AM
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