CHICAGO (Reuters) - Weight Watchers International Inc (WTW.N) said its chief executive, James Chambers, will step down at the end of September after three years on the job, and board member Oprah Winfrey will help the diet company look for his successor.
The former talk show queen announced last October that she had bought a 10 percent stake in Weight Watchers and would follow its weight-loss program. The news sent shares of Weight Watchers soaring more than 100 percent, though some of the company’s results this year have missed Wall Street expectations.
Weight Watchers said on Monday that no one from inside the company, including Winfrey, was considered a candidate to replace Chambers.
But Winfrey, who sits on the board of directors, will be “actively involved” in finding his replacement, along with other members of a search committee, the company said.
Reporting by Tom Polansek; Editing by Tiffany Wu