US: Weight Watchers CEO Steps Down, Oprah To Help In Search For Replacement

Weight Watchers International has announced the surprise exit of CEO James Chambers, a move that comes three years after he was appointed to the position.

The company said that following a “joint decision” between Chambers and the board of directors, he will resign from the post at the end of September 2016.   The move follows a string of poor results for Weight Watchers, which has come under pressure from rivals.

Chambers will be succeeded on an interim basis by a three-person Office of the CEO, comprising of CFO Nicholas Hotchkin, former executive Thilo Semmelbauer, and director Christopher Sobecki.

Weight Watchers also said that TV celebrity Oprah Winfrey (along with a search committee) will be “actively involved” in the search for his replacement.  Oprah holds a nearly 15% stake in the company.