Media mogul Oprah Winfrey announced she is stepping down from the board of Weight Watchers on Wednesday.
Additionally, Winfrey will donate her Weight Watchers stock to the Museum of African American History in Washington, D.C. The stock decreased in value by 23% Thursday, to $2.88 a share. Winfrey was the largest stakeholder, according to FactSet, as she owned 1.43%.
Winfrey has served on the weight loss company board since 2015 and recently admitted to using medication to maintain a healthy weight. Weight Watchers is primarily known for its diet plan to help clients lose weight but recently bought telehealth provider Sequence for $106 million.
“I look forward to continuing to advise and collaborate with WeightWatchers and CEO Sima Sistani in elevating the conversation around recognizing obesity as a chronic condition, working to reduce stigma, and advocating for health equity,” Winfrey said.
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Weight Watchers said in a statement that losing Winfrey “was not the result of any disagreement with the company on any matter relating to the company’s operations, policies or practices.” Their next annual meeting comes in May.
The Museum of African American History is known for its homages to black historical figures in digital and physical exhibits. A portrait of the late Breonna Taylor, who was shot and killed by police in her apartment, was recently put on display there.
