NEW YORK, Oct. 19, 2015 /CNW/ -- Oprah Winfrey and
Weight Watchers International, Inc. (NYSE: WTW) have joined
together in a groundbreaking partnership to inspire people around
the world to lead a healthier and more fulfilling
life. Winfrey was compelled by the proven Weight Watchers
program combined with new initiatives to broaden the company's
mission to prioritize overall health and wellness. As a part
of this long-term partnership, Winfrey is making a substantial
equity investment in the company and is joining the Board of
Directors, bringing her insight to future products and
programs.
"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 Oprah
Winfrey. "I believe in the program so much I decided to
invest in the company and partner in its evolution."
"We are expanding our purpose from focusing on weight loss alone
to more broadly helping people lead a healthier, happier life,"
said Jim Chambers, President and
CEO, Weight Watchers International, Inc. "Through our
conversations, it became clear that there is tremendous alignment
between Oprah's intention and our mission. We believe that her
remarkable ability to connect and inspire people to realize their
full potential is uniquely complementary to our powerful community,
extraordinary coaches and proven approach."
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."
About Weight Watchers International, Inc.
Weight
Watchers International, Inc. is the world's leading commercial
provider of weight management services, operating globally through
a network of Company-owned and franchise operations. Weight
Watchers holds more than 36,000 meetings each week where members
receive group support and learn about healthy eating patterns,
behavior modification and physical activity. Weight Watchers
provides innovative, digital weight management products through its
websites, mobile sites and apps. Weight Watchers is the leading
provider of online subscription weight management products in the
world. In addition, Weight Watchers offers a wide range of
products, publications and programs for those interested in weight
loss and weight control.
Media
Contacts:
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Stacie Sherer
for Weight Watchers
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Nicole Nichols for
Oprah Winfrey
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212.589.2737
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323.602.5511
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Stacie.Sherer@weightwatchers.com
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Nicole_Nichols@own.tv
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For Investor
Inquiries:
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Corey Kinger
for Weight Watchers
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212.986.6667
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kinger@braincomm.com
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SOURCE Weight Watchers International, Inc.