WeightWatchers CEO Sima Sistani Resigns After Over Two Years in Position, Reports Reuters

WW International, commonly known as WeightWatchers, announced on Friday that CEO Sima Sistani will be stepping down, with insider Tara Comonte taking over in an interim capacity.

During Sistani’s two-and-a-half years in the role, WeightWatchers expanded its offerings by acquiring the telehealth platform Sequence, now rebranded as WeightWatchers Clinic, which focuses on obesity drug prescriptions. However, the company’s stock has seen a drastic decline of approximately 90% this year, largely influenced by the increasing popularity of GLP-1 medications like Ozempic and Wegovy, which pose competition to its traditional weight loss programs.

In February, the company’s shares faced further setbacks when it was revealed that celebrity shareholder Oprah Winfrey would be leaving the board and donating her stock to the National Museum of African American History and Culture.

Comonte joined the WeightWatchers board in June of last year. Her previous experience includes serving as CEO of TMRW Life Sciences, as well as holding the positions of President and finance chief at the fast-food chain Shake Shack.

On Friday, the company reiterated its previous projections for full-year 2024 revenue and adjusted operating income.