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Oprah Winfrey at a convention in 2019
Photo: Caitlin Ochs / REUTERS
Weight Watchers is losing its most famous board member and major shareholder: Oprah Winfrey.
The American talk show host will resign from the supervisory board in May, sell all of her shares and donate the proceeds, the company announced in a press release.
Winfrey took over the position on the supervisory board in 2015 and was considered the company's advertising ambassador.
She was supposed to save the brand.
Three months ago, the presenter explained in an interview with the US magazine People that she was taking medication to lose weight.
She has a predisposition to being overweight "that no amount of willpower can get under control."
According to Weight Watchers' press release, the presenter wants to "continue to provide advice and work with the company and managing director Sima Sistani."
Nevertheless, the company's shares fell more than 20 percent in after-hours trading following the announcement of her departure.
For decades, Weight Watchers was considered the most successful diet company in the world.
But the number of members has been declining for years.
On Wednesday, the company said it ended the final quarter of 2023 with 3.8 million subscribers.
In the previous quarter there were 4 million members.
Many Americans now prefer to have injections to become slimmer.
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