Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Oprah Winfrey sheds portion of Weight Watchers stock

Cast member Oprah Winfrey. REUTERS/Mario Anzuoni

(Reuters) - Media mogul Oprah Winfrey sold a portion of her holdings in Weight Watchers International Inc, the former talk show host's production company Harpo Inc said on Tuesday.

A portion of the shares were donated to Winfrey's foundation and she will retain over 75 percent of her holdings in the weight management company, Harpo said in a statement.

Winfrey will not sell additional shares this year, it added.

"I am deeply committed to Weight Watchers and continue to see a bright future for the company," said Winfrey, who is continuing in her role as board member, adviser and spokesperson.

In 2015, Winfrey joined Weight Watchers' board and took a 10-percent stake in the company, with options to buy more.

Weight Watchers' stock have gained more than eight times in value since she bought into the company.

(Reporting by Subrat Patnaik in Bengaluru; editing by Diane Craft)

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.