WW Extends “Groundbreaking Partnership” With Oprah Winfrey
12.17.19
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Simpson Thacher represented WW International, Inc. (“WW”) in connection with the extension of the company’s “groundbreaking partnership” with Oprah Winfrey.
Ms. Winfrey and WW have entered into an extension of their Strategic Collaboration Agreement that provides that Ms. Winfrey, among other things, will consult with WW and participate in developing, planning, executing and enhancing the WW program and related initiatives, and provide WW with certain promotional and other services. In addition, Ms. Winfrey will continue to be nominated to serve on the WW Board of Directors through 2025. As part of the extension of the strategic partnership, Ms. Winfrey was granted a fully vested option to purchase 3.3 million shares of WW, representing approximately 4.3% of WW’s common stock on a fully diluted basis.
WW – Weight Watchers reimagined – is a global wellness company and the world’s leading commercial weight management program. WW inspires millions of people to adopt healthy habits for real life. Through their engaging digital experience and face-to-face group workshops, members follow their livable and sustainable program that encompasses healthy eating, physical activity and a helpful mindset.
The Simpson Thacher team included Ken Wallach, Niyati Roy and Camilla Johnson (Corporate); and David Rubinsky and Jamin Koslowe (Executive Compensation and Employee Benefits).