Oprah Winfrey Exits WeightWatchers Board, Donates Stock; Company Says Moves Aim To Counter “Perceived Conflict Of Interest Around Her Taking Weight Loss Medications”

Oprah Winfrey is leaving the board of directors of WeightWatchers after a 9-year run and donating her stock in the company in order to avoid any potential conflict of interest over her use of weight-loss medication.

Shares in the company fell almost 20% on the news.

In addition to not standing for re-election in May when the company holds board elections, Winfrey said she plans to donate all of her stock in WW to the the National Museum of African American History and Culture. As of Jan. 1, she owned 1.13 million shares worth $6.34 million, according to data from LSEG.

The company said Winfrey is giving to the museum in order to support its goal to “promote and highlight the contributions of African Americans and to eliminate any perceived conflict of interest around her taking weight loss medications.” She will also donate the proceeds from any future exercises of her WW stock options to NMAAHC.

“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. “Weight health is a critically important topic and one that needs to be addressed at a broader scale. I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation.”

A dramatically effective new class of weight-loss drugs like the injectable Ozempic has gained widespread popularity in recent years, especially in the entertainment business.