Oprah Winfrey has extended her partnership with WW, formerly known as Weight Watchers, for another five years.
WW International (WW) announced Monday that Winfrey will remain on the board and continue as an adviser and major shareholder through May 2025.
She joined WW’s board in October 2015 and bought a 10% stake in the company, worth $43 million. However, she has sold off some of her stake in the past few years. She currently has a 8% stake in WW, according to Refinitv.
As part of her extended deal, Winfrey has the option of increasing her stake once again: She can buy up to 3.3 million more shares, which would bring her stake up to 12.3%.
“I am passionate about WW’s potential to reach and inspire even more people in the years to come,” Winfrey said in a release. The extension further entrenches Winfrey into food, which includes an investment in True Food Kitchen and prepared meals.
In her current role, she is focusing on creative strategy and the company’s brand efforts. She’s kicking off a tour in January with WW where she will interview celebrities, including former first lady Michelle Obama, and “guide attendees through a series of self-reflections, leading to a personal 2020 action plan.”
Winfrey has also helped guide WW’s name change and evolution of the brand ethos from a diet company to a health and wellness brand. Shares have soared nearly 500% since she joined.
But WW has missed out on the 2019 stock market rally, as the company faced increased competition from new diet fads, including the keto diet. In its most recent earnings report from November, the company said its revenue came in lower than analysts’ expectations.
The stock rallied Monday nearly 2% and wiped away its meager year-to-date losses. The company is now flat for the year.