WeightWatchers CEO Sima Sistani sent a memo to employees trying to reassure them as the company's stock continues to suffer following the news that Oprah Winfrey is leaving the board.
WeightWatchers CEO Sima Sistani is trying to rally her team as the company's stock continues to take a beating following the announced departure of Oprah Winfrey from the board two weeks ago. The CEO aimed to reassure employees with an internal memo dated Thursday and obtained by CNBC in which she said the company is in a healthy financial position despite what the headlines might suggest. WeightWatchers disclosed Winfrey's exit on Feb. 28, sending shares tumbling more than 20%.
We do not believe the recent stock moves reflect the strength of our performance, outlook or the near term trade-offs we're making for our future growth," Sistani wrote, adding "we have strong liquidity and are not in a cash crunch.
Others have speculated that WeightWatchers shares have been hurt by concerns over its growth and liquidity. But Sistani pushed back against those concerns, saying the company has no maturities due until 2028 and is executing on a plan for achieving growth in several areas this year. She vowed that WeightWatchers would "prove the naysayers wrong.
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