NEW YORK — Mindy Grossman has been named president and chief executive officer of Weight Watchers International, Inc., effective July 1. She will succeed James R. Chambers, who left the company in September 2016. Until Ms. Grossman joins Weight Watchers the company will continue to be led by members of the interim office of the c.e.o.: Nicholas Hotchkin, chief financial officer, and Thilo Semmelbauer and Christopher Sobecki, directors of the company.
Ms. Grossman joins Weight Watchers from HSN, Inc. where she has been c.e.o. since 2008. Under her leadership, she transformed the HSN brand into a lifestyle network, launched industry-leading digital innovations and formed partnerships with leading brands and personalities. Earlier, she was global vice-president at Nike, Inc., president and c.e.o. of Polo Jeans Co., vice-president of new business development at Polo Ralph Lauren Corp., president of Chaps Ralph Lauren, and senior vice-president of menswear for Warnaco, Inc. She also held senior positions at Tommy Hilfiger and Oxford Industries.
She has been named three times by Forbes magazine as one of the world’s 100 most powerful women.
“I’m delighted that Mindy will be joining Weight Watchers as c.e.o. and director,” said Ray Debbane, chairman of Weight Watchers’ board of directors. “Mindy has an incredibly successful track record of bringing bold and transformative ideas to businesses to unlock their potential. Over her illustrious career, she has worked with some of the biggest brands and has consistently translated consumers’ interests and aspirations into visionary innovations. Weight Watchers has returned to growth, and Mindy is the right person to take our business to a whole new level and empower the brand to realize its full potential.”
Earlier this month, Moody’s Investors Service issued a report expressing optimism about the near-term future of Weight Watchers. Moody’s cited growth in subscribers following Oprah Winfrey’s investment in the company and a partnership involving Apple Inc. and its Apple Watch platform as two reasons for the optimism.
During fiscal 2016, ended Dec. 31, 2016, Weight Watchers International recorded net income of $67.7 million, equal to $1.03 per share on the common stock, an increase when compared with fiscal 2015 when the company earned $32.9 million, or 56c per share. Sales for 2016 were $1,164.9 million and flat compared with 2015 when sales were $1,164.4 million.
