After a two-year tenure, Sima Sistani has stepped down from her role as CEO of WeightWatchers (WTW).
During Sistani's leadership, the company, traditionally known for assisting customers in weight loss via dietary management and healthy habit formation, made a strategic acquisition of a telehealth platform that endorses weight-loss medications.
"These medications have demonstrated, and scientific consensus now recognizes, that obesity is a chronic condition. It’s crucial, irrespective of our business implications, to be transparent about this. It’s not merely about willpower," Sistani stated in a previous interview with CNN.
"We're acknowledging our improved understanding and committing to better support individuals, thereby fostering positive attitudes and reducing the stigma around obesity," she added.
Despite these efforts, CNN reports that the stock has plummeted 90 percent year-to-date, as an increasing number of customers have opted for weight-loss drugs independently rather than through WeightWatchers.
The company's stock took an additional hit following Oprah Winfrey's departure from the board earlier this year. In recent months, as investor confidence waned, the stock slipped below $1, according to Axios.
WeightWatchers, based in New York, has appointed board member Tara Comonte, former president and CFO of the burger chain Shake Shack, as interim CEO.
