Oprah Winfrey is definitely trying to watch her weight, and claim all her stakes. According to the Associated Press, Winfrey is buying about 6.4 million shares of Weight Watchers. The company’s board expands from nine to 10 members with Winfrey’s inclusion.
‘Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for,” said Winfrey. “I believe in the program so much I decided to invest in the company and partner in its evolution.’
Winfrey’s roles at Weight Watchers will include:
- Member – Winfrey has joined the program and will candidly share her experiences and perspective along the way.
- Board Member and Adviser – Winfrey will bring insight and strategy to program development and execution that reflects not only her own experiences as a member, but also her unique ability to inspire and connect people to live their best lives.
- Owner – Winfrey will purchase newly issued shares representing 10% of the shares outstanding and will receive options to acquire an additional 5% of the fully diluted shares.
“Weight Watchers and Oprah Winfrey make a powerful combination,” said Ray Debbane, Chairman of the Board of Directors, Weight Watchers International, Inc. “Oprah is a force of nature in connecting with people on a very personal level to live inspired lives. This partnership will accelerate our transformation and will meaningfully expand our ability to impact many millions of people worldwide.”
I’m sure Winfrey’s role will also give her more of a reason to sit down and have discussions with all the big girls in the industry who have, or are trying to lose weight.[mashshare]