Market Chatter: WW International Faces Proxy Fight as Investor Seeks Board Seats, Larger Cost Cuts

MT Newswires Live
04-03

A WW International (WW) investor, Premca Capital, has launched a proxy fight against the parent company of WeightWatchers, nominating three directors and pushing for $200 million to $300 million in cost reductions, The Wall Street Journal reported Thursday, citing people familiar with the matter.

The activist investor, which has a less than 1% stake in WW International, also seeks management changes, a revamped app and the adoption of a growth plan, according to the Journal report.

In February, WW said it was on track to achieve $100 million in annual cost savings by the end of 2025, as part of a broader restructuring plan that includes job cuts, the report said.

WW International did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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