| The 'Oprah Effect' Can't Fix Weight Watchers' Biggest Problems — and Shares are Tanking |
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By: Business Insider |
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 Weight Watchers shares are crashing after the company announced CEO James Chambers is resigning.
Shares fell as much as 8% in after-hours training on the news, which comes at an uncertain time for the brand. Weight Watchers will commence a search for a new CEO.
One year ago, investors scurried to buy Weight Watchers shares after Oprah bought a 10% stake in the company and said she would join its board.
But investors were overlooking some of the company's biggest problems. Weight Watchers, whose diet program has a questionable long-term track record, faces competition from free apps and changing attitudes toward wellness that will have more people turning to alternatives.
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