The importance of Oprah Winfrey to Weight Watchers was evident in the market reaction to the announcement that she is stepping down from the board.
Thilo Semmelbauer, chairman of WW International, the trading name for Weight Watchers, said the company will “dearly miss her presence on the board”, as the group’s shares fell by 18.2 per cent, or 0.69 cents, to close at $3.12 in New York last night, valuing it at $247 million.
The talk show host has been on the board of WW for more than eight years and will not stand for re-election at the annual general meeting in May.
Winfrey, 70, will donate her shares in the company to the National Museum of African American History and Culture in the US
