Oprah Winfrey has joined the Board of Weight Watchers, with a 10 percent stake in the international company. The announcement was made this morning, along with the fact that she is looking to gain another 5 percent of the company stakes.
The announcement has seen Weight Watchers stock increase by 53 percent. She says that her decision to join the Weight Watchers board is due to her belief in the company. Winfrey had a positive experience with the weight loss program.
Weight Watchers International has also announced that it is no longer just focusing on weight loss. It will start to focus on healthier lifestyles. The company has always remained ahead of other weight loss brands when it comes to healthier choices, and regularly follows studies and health news. It’s biggest renovation came in 2011 when it moved away from counting calories to focusing on feeling more satisfied when eating.
In the announcement of Winfrey joining the Weight Watchers board, there is also news that she will be an adviser. CEO of Weight Watchers, Jim Chambers, says that there is an alignment between the company’s mission and Winfrey’s intentions. Winfrey followed the plan and recommends it to others. She says that the plan helped her make a lasting shift after struggling with her weight for so long.
“Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for.”
The deal to buy the stock at $6.97 per share means that she will not be able to sell her stock for two years. After that, she will be able to sell 15 percent of her stock the year after, 30 percent the year after that and 60 percent after that. Once the first five years are over, she will be able to sell off the remainder of her shares.
“We believe that her remarkable ability to connect and inspire people to realize their full potential is uniquely complementary to our powerful community, extraordinary coaches and proven approach.”
Weight Watchers was founded in 1963 by Jean Nidetch, who passed away earlier this year. It went from a small meeting with like-minded friends in her own living room with a dietary plan from her doctor to a scientific, financial business. Millions of men and women are either currently losing or have lost weight on the plan around the world, whether through the weekly meetings, online subscription or Weight Watchers at Home option.
USA Today: http://www.usatoday.com/story/money/2015/10/19/oprah-winfrey-weight-watchers/74206132/
The Guardian: http://www.theguardian.com/business/2015/oct/19/oprah-winfrey-takes-stake-in-weight-watchers
Image from Wikimedia Commons (https://en.wikipedia.org/wiki/Oprah_Winfrey#/media/File:Oprah_Winfrey_in_Str%C3%B8get,_Denmark_on_30_September_2009.jpg) Used under the CC-3.0 License (http://creativecommons.org/licenses/by/3.0/)
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