NEW YORK, Sept. 12, 2016 /PRNewswire/ -- Weight
Watchers International, Inc. (NYSE: WTW) today announced that it is
commencing a search for a new CEO to lead the next stage of the
Company's growth. James Chambers has
notified the Board of Directors of his resignation as Chief
Executive Officer, effective September 30,
2016, and as a Director of the Company. In addition, Thilo
Semmelbauer, who had previously served as Chief Operating Officer
with Weight Watchers until 2008, has been elected to the
Company's Board of Directors.
To lead the company until a permanent CEO is appointed, the
Board announced the creation of an interim Office of the Chief
Executive Officer. The three members of the Office of the CEO are
Nicholas Hotchkin, Chief Financial
Officer, Thilo Semmelbauer,
Director, and Christopher Sobecki,
Director.
Ray Debbane, Chairman of Weight
Watchers Board of Directors stated, "On behalf of the entire Board
of Directors, I would like to thank Jim for leading our turnaround
and the transformation progress of the Company over the past three
years. Under Jim's leadership we returned to member recruitment
growth, transformed our technology platform, and introduced the new
holistic Beyond the Scale program that we believe has great
potential."
Chambers remarked, "I am proud of the team's
accomplishments in returning the Company to growth through the
successful launch of Beyond the Scale and our long-term partnership
with Oprah Winfrey. I am confident
that Weight Watchers has the right strategies to play a major role
in helping to inspire and guide the healthier choices that
transform people's lives."
Nicholas Hotchkin, CFO and
interim Office of CEO member, stated, "We remain confident we will
deliver revenue and earnings growth in 2016, and that Q3 will be
our fourth consecutive quarter of year-over-year member recruitment
growth. We are positioned to enter 2017 with a revenue and earnings
tailwind. Thilo, Chris and I look forward to collaborating on the
next steps of our transformation and the transition to a new
CEO."
Debbane added, "The Board has established a search committee.
Board members, including Oprah
Winfrey and myself, will be actively involved in the search
for a new CEO, and look forward to working with her or him in
shaping the future of Weight Watchers."
Biographical Information on New Director
Thilo Semmelbauer has been involved in technology ventures for
over 25 years. From 2010 to 2015 he served as President and COO of
Shutterstock, a global marketplace for licensing images, videos,
and music to businesses worldwide. From 2000 to 2004, Semmelbauer
was part of the founding team of WeightWatchers.com, and later
became Chief Operating Officer of Weight Watchers International
from 2007-2008. He holds a dual master's degree from MIT, in Management and Electrical Engineering, from
the Leaders for Global Operations program, as well as a B.A. in
Engineering and Computer Science from Dartmouth College.
About Weight Watchers International, Inc.
Weight Watchers International, Inc. is the world's leading
commercial provider of weight management services, operating
globally through a network of Company-owned and franchise
operations. Weight Watchers holds more than 32,000 meetings each
week where members receive group support and learn about healthy
eating patterns, behavior modification and physical activity.
Weight Watchers provides innovative, digital weight management
products through its websites, mobile sites and apps. Weight
Watchers is the leading provider of paid digital subscription
weight management products in the world. In addition, Weight
Watchers offers a wide range of products, publications and programs
for those interested in weight loss and weight control.
This news release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are based on management's
current expectations and beliefs, as well as a number of
assumptions concerning future events. These statements are subject
to risks, uncertainties, assumptions and other important factors.
Readers are cautioned not to put undue reliance on such
forward-looking statements because actual results may vary
materially from those expressed or implied. The reports filed by
the Company pursuant to United
States securities laws contain discussions of these risks
and uncertainties. The Company assumes no obligation to, and
expressly disclaims any obligation to, update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers are advised to review the
Company's filings with the United States Securities and Exchange
Commission (which are available from the SEC's EDGAR database at
www.sec.gov, at various SEC reference facilities in the United States and via the Company's
website at www.weightwatchersinternational.com).
Contact
Information:
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Investors:
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Media:
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Brainerd
Communicators,
Inc.
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Stacie
Sherer
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Corey
Kinger
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(212)
589-2737
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(212)
986-6667
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stacie.sherer@weightwatchers.com
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kinger@braincomm.com
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SOURCE Weight Watchers International, Inc.