NEW YORK (AP) — WeightWatchers is shaking up its management.WW Global introduced Friday that CEO Sima Sistani would go away her position efficient straight away. Tara Comonte, a WeightWatchers board member and previous Shake Shack government, was once made intervening time leader government.The New York-based weight reduction corporate didn’t disclose the explanations at the back of the abrupt transfer, however it famous that Comonte would step into the position of CEO at a time when the corporate is “eager about making improvements to its operational and monetary efficiency.”WeightWatchers, which was once based greater than 60 years in the past, has struggled some not too long ago. Its newest income reviews confirmed slipping earnings and prices racked up from restructuring efforts. Its inventory additionally has plummeted over the years. WW stocks are down greater than 90% during the last 12 months; now buying and selling as a penny inventory, they closed at about 83 cents on Friday.
Sistani joined WeightWatchers as CEO greater than two years in the past. Throughout her tenure, she led the corporate’s contemporary strikes into the prescription drug weight reduction industry — specifically with the $106 million acquisition of Collection, now WeightWatchers Health facility, a telehealth provider that is helping customers get prescriptions for medicine like Ozempic, Wegovy and Trulicity.
Previous to becoming a member of WeightWatchers, Sistani co-founded Houseparty, a now-discontinued social networking app that introduced staff video chatting. Along with serving as CEO of Houseparty, Sistani was once in the past a senior chief at Epic Video games.
Comonte joined WeightWatchers’ board again in June 2023. Maximum not too long ago, she was once CEO of fertility corporate TMRW Lifestyles Sciences — and labored as president and CFO of Shake Shack previous to that. Past her present place at WeightWatchers, she additionally serves at the forums of Kindbody and Strava, in keeping with the corporate.In a remark, Comonte mentioned she appeared ahead to running with WeightWatcher management “as we advance the corporate’s method to make bigger get admission to and care all the way through this important duration of our transformation.”
With Sistani stepping down from her place at the board, WeightWatchers mentioned it might cut back the scale of its board from 9 to 8 individuals.WeightWatchers in the past lowered its board from 10 to 9 individuals previous this 12 months — after former communicate display host Oprah Winfrey stepped down. Winfrey, who had served on WeightWatchers’ board since 2015, mentioned in February that she would go away her place and donate all of her hobby to the Nationwide Museum of African American Historical past and Tradition, a part of the Smithsonian Establishment in Washington.The transfer got here after Winfrey instructed Folks mag that she was once the usage of a weight-loss medicine in December 2023. On the time of her departure, the corporate mentioned that Winfrey aimed to “get rid of any perceived war of hobby.”
