The announcement comes amid falling profits for the company. WeightWatchers has been facing declining stock prices since November as weight loss drugs, known as GLP1s, have soared in popularity.
Oprah Winfrey, pictured in January, said she will donate her stake in WeightWatchers and proceeds from any future stock options to the National Museum of African American History and Culture upon her departure from the company's board of directors.
WeightWatchers shares fell precipitously after the announcement, dropping around 25% in early trading on Thursday. The company has been facingAs Ozempic use grows, so do reports of possible mental health side effects The remaining nine board members said they support Winfrey's charitable decision and that it serves"to eliminate any perceived conflict of interest around her taking weight loss medications."
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