WeightWatchers (WTW) CEO Sima Sistani has resigned from the position after leading the company for two years.
During her tenure, the company, which traditionally helps customers to lose weight by focusing on food intake and establishing healthy habits, acquired a telehealth platform that promotes weight-loss drugs.
"These medications have shown, and science has evolved to say, that living with obesity is a chronic condition. It's important, no matter what it means for our business, to just be clear about that. It's not willpower alone," Sistani told to CNN in a previous interview.
"What we are now saying is we know better and it's on us to do better so that we can help people feel positive and destigmatize this conversation around obesity."
Despite the changes, the stock plummeted 90 percent year-to-date as more customers started using weight loss drugs on their own instead of through WeightWatchers, as per CNN.
The stock dropped further after Oprah Winfrey left the company's board earlier this year. In recent months, the stock dipped below $1 as investors started losing confidence in the company's outlook, Axios reports.
The New York-based company announced that board member Tara Comonte, a former president and CFO of burger chain Shake Shack, will take over as interim CEO.
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