Bulletin: WW International Inc. Announces CEO Change After Weak Operating Results And Aggressive Restructuring

CHICAGO (S&P Global Ratings) Sept. 27, 2024--WW International Inc. (CCC+/Negative) announced Sima Sistani will depart from her role as CEO and board member on Sept. 27, 2024, after a tenure of about two and a half years. Notably, Sistani led the acquisition of Sequence (telehealth platform) in early 2023 given the rise of GLP-1 medications being used for weight loss. S&P Global Ratings believes this represents another strategic shift representing difficulties turning around the business. In addition, the change in CEO comes at a pivotal time for the company, after it announced a 40% global headcount reduction at the vice president and above level. We believe any additional material restructuring would have negative credit implications given the company's need to

...CHICAGO (S&P Global Ratings) Sept. 27, 2024--WW International Inc. (###+/Negative) announced Sima Sistani will depart from her role as CEO and board member on Sept. 27, 2024, after a tenure of about two and a half years. Notably, Sistani led the acquisition of Sequence (telehealth platform) in early 2023 given the rise of GLP-1 medications being used for weight loss. S&P Global Ratings believes this represents another strategic shift representing difficulties turning around the business. In addition, the change in CEO comes at a pivotal time for the company, after it announced a 40% global headcount reduction at the vice president and above level. We believe any additional material restructuring would have negative credit implications given the company's need to preserve profitability to avoid further weakening its liquidity position. It is important to note that WW has shifted its strategy and engaged in restructuring programs many times over the years but continued to lose revenue and...

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