Weight Watchers just got it’s 10th board member– Oprah! She has reportedly purchased 6.4 million shares of the company at $6.79 a pop, causing the stock princes to increase to $10.03, making Ms. Winfrey $65 million richer! She makes no mistake with getting to these coins, yes ma’am!
Oprah “has given the company the right to use her name, image, likeness and endorsement for the company, its programs, products and services, subject to her approval,” as reported by the NY Post. Plus, she will be making public appearances on behalf of Weight Watchers. As a member of the board, Oprah will be working intimately with WW by collaborating with and promoting their brand.
In a statement regarding the recent merger with Oprah, Weight Watchers President and CEO Jim Chambers said, “We are expanding our purpose from focusing on weight loss alone to more broadly helping people lead a healthier, happier life,” and who better than Oprah to execute this? Her devotion to all aspects of health is unequivocal as she believes that your health is your wealth! She’s literally proof of that.
Weight Watchers has been experiencing a %78 decline in sales over the past three years, this year, suffering a 35% dip in February. It was the worst drop since their IPO in 2001. Nonetheless, it appears as though Oprah was the perfect solution! Although prices had dipped to $11.35 in February and are currently at $10.03, it is safe to assume that prices will only increase, because this company is about to explode! The knowledge that Oprah is willing to share as a black billionaire business woman will be essential for this company’s growth and success, so it will be interesting to see their creativity manifest through magazines and witty commercials!
Roommates, do you think that Oprah will be a better face for Weight Watchers or do you prefer Jennifer Hudson? Tell us what you think in the comments!
TSR Intern: Talia O. @theclosetratchet on Instagram & @tallyohhh on Twitter!
Source Cited: http://nypost.com/2015/10/19/shares-soar-after-oprah-buys-10-stake-in-weight-watchers/ , http://www.fool.com/investing/general/2015/07/09/weight-watchers-international-inc-wtw-stock-down-2.aspx
What Do You Think Roomies?
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