Leadership Shifts at WeightWatchers Amid Financial Struggles With CEO Sima Sistani Departing Immediately

WeightWatchers International announced on Friday that CEO Sima Sistani had departed her position, effective immediately. Tara Comonte, a board member of the company and a former executive at Shake Shack, was named Interim Chief Executive.

While the New York-based organization did not disclose specific reasons for the sudden leadership change, it did highlight that Comonte’s appointment comes at a time when the company is concentrating on improving both its operational efficiency and financial health.

Founded over six decades ago, WeightWatchers has faced recent financial setbacks. The company’s most recent earnings report revealed declining profits and significant expenses related to restructuring. The company’s stock has also seen a sharp decline, with shares down more than 90% over the past year. On Friday, its stock closed at just 83 cents, now trading as a penny stock.

Sistani, who had served as CEO for more than two years, played a key role in guiding the company’s foray into the prescription drug weight-loss market. This included overseeing the $106 million acquisition of Sequence, now known as WeightWatchers Clinic, a telehealth platform providing access to weight-loss medications such as Ozempic, Wegovy, and Trulicity.

Before joining WeightWatchers, Sistani co-founded the social networking app Houseparty, which focused on group video chats but has since been discontinued. She also held a senior leadership role at Epic Games.

Comonte, who has been on the WeightWatchers board since June 2023, most recently served as CEO of fertility company TMRW Life Sciences. Before that, she held leadership positions at Shake Shack, where she was both president and CFO. Beyond her role at WeightWatchers, she sits on the boards of Kindbody and Strava.

In a statement, Comonte expressed enthusiasm for collaborating with WeightWatchers’ leadership team, saying she was eager to help advance the company’s strategy as it navigates this pivotal phase of transformation.

With Sistani’s departure, the company also announced that it would be reducing its board size from nine to eight members. This reduction follows an earlier board downsizing in 2023 when Oprah Winfrey stepped down from her role. Winfrey, who had been a Board Member since 2015, resigned in February and donated her shares to the National Museum of African American History and Culture. Her departure came after she publicly disclosed using weight-loss medication and wished to avoid any potential conflicts of interest.

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