00:00It's Benzinga, and here's what's on the block.
00:03Weight Watchers announced the departure of CEO Seema Sistani, effective immediately,
00:07and board member Tara Kamonti, former Shake Shack executive, has been named interim CEO.
00:12The company did not provide a reason for the change, but highlighted Kamonti's role in
00:16addressing operational and financial issues, as Weight Watchers struggles with falling
00:21profits and a stock drop of over 90% in the past year.
00:25Weight Watchers reduced its board from 10 to 9 members earlier this year, following
00:29the departure of former talk show host Oprah Winfrey.
00:33Winfrey stepped down in February after she revealed that she was using a weight loss
00:36medication.
00:37For all things money, visit Benzinga.com.
