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Weight Watchers Announces CEO Search

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...