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WeightWatchers CEO Sima Sistani is trying to rally his team as the company’s stock price continues to slump following his announced resignation. oprah winfrey From the bulletin board from 2 weeks ago.
The CEO sought to reassure employees in an internal memo dated Thursday and obtained by CNBC, in which he said the company’s financial position is sound despite what the headlines suggest. Stated.
WeightWatchers announced on February 28 that Oprah Winfrey will no longer serve as a member of its board of directors. The media icon has been on the board since 2015. (Rich Polk/Golden Globe Awards 2024/Golden Globe Awards 2024/Fox News)
Weight Watchers announced Winfrey’s departure on February 28, and its stock price fell more than 20%. The stock is down 50% in the past month and 74% year-to-date.
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| ticker | safety | last | change | change % |
|---|---|---|---|---|
| WW | WW International Co., Ltd. | 2.27 | +0.40 | +21.60% |
“We do not believe that recent stock price movements reflect our performance or prospects, or the strength of our short-term trade-offs for future growth,” Sistani said. “We have liquidity and are not running out of funds,” he added. . ”
Analysts believe that Weight Watchers has been linked to Novo Nordisk’s Ozempic, Eli Lilly’s MunjaroAs consumers flock to drugs as an alternative to just diet and lifestyle changes,
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Some speculate that concerns about growth and liquidity may have hurt Weight Watchers stock.
Weight Watchers CEO Sima Sistani says the company will “prove the naysayers wrong” as its stock slumps following Oprah Winfrey’s retirement announcement. told. (Rafael Enrique/SOPA Images/LightRocket via Getty Images/Getty Images)
But Sistani pushed back on those concerns, saying the company does not have a maturity date until 2028 and is implementing plans to achieve growth in several areas this year.
She vowed that Weight Watchers would “prove the naysayers wrong.”
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“Turning around and completely transforming your business is not for the faint of heart!” Sistani told employees in the memo.
“As we continue to focus on serving our members, our stock price will naturally rise,” she continued. “The work you are doing is important and is setting us up for long-term success.”
FOX Business’ Daniella Genovese and Reuters contributed to this report.
