Sima Sistani, who Embraced Ozempic, is Out as CEO of WeightWatchers
WeightWatchers announced on September 27, 2024, that CEO Sima Sistani has stepped down from her position after approximately two and a half years leading the company. Sistani’s departure comes amid significant challenges, including the rise of weight loss medications like Ozempic and Wegovy, which have impacted the company’s traditional weight loss program.
Tara Comonte, an independent board member and former president and CFO of Shake Shack, has been appointed as the interim CEO. Comonte previously served as CEO of TMRW Life Sciences and brings extensive experience in the healthcare and finance sectors to her new role.
During her tenure, Sistani oversaw the acquisition of telehealth platform Sequence, now known as WeightWatchers Clinic, which expanded the company’s offerings to include obesity drug prescriptions. However, despite this strategic move, WeightWatchers’ stock has plummeted about 90% this year due to the growing popularity of GLP-1 drugs.
The company has also faced additional challenges, including a 40% reduction in roles at the vice president level and higher as part of a $100 million cost reduction initiative. Oprah Winfrey, a celebrity shareholder, exited the board in February and donated her shares to the National Museum of African American History and Culture, further impacting the company’s stock performance.
