WW International Inc. shares plunged after Oprah Winfrey said she’s preparing to leave its board, the latest blow to the obesity-focused company that’s struggling to stay relevant in the Ozempic era. 

Winfrey, whose relationship with the company goes back nearly a decade, said Wednesday that she would not stand for re-election at WW’s May shareholder meeting. Shares of WW, also known as WeightWatchers, fell as much as 26per cent in trading before U.S .markets opened Thursday.

Winfrey, who recently disclosed she was taking popular weight-loss drugs as a “maintenance tool,” said she would continue to work with WW “in elevating the conversation around recognizing obesity as a chronic condition.”

In 2015, WeightWatchers struck a deal with the influential talk-show host and businesswoman who had long struggled publicly with her weight. After WeightWatchers approached her, Winfrey bought a 10per cent stake and joined the board. 

Read More: Ozempic Hype House Backfires in WeightWatchers Brand Misstep

In commercials, she flaunted the 40 pounds she’d lost on the program and praised its flexibility, declaring “I have bread every day.” Her endorsement provided a much needed face-lift for an aging brand and gave the company credibility with Winfrey’s large fan base.

Today, WW is struggling to keep customers as weight-loss shots like Eli Lilly & Co.’s Zepbound and Wegovy from Novo Nordisk A/S soar in popularity. Last spring, WW abandoned its full-throated embrace of lifestyle change when it acquired a telemedicine startup to sell popular obesity drugs. The company also faced a backlash recently when it enlisted social media influencers for a marketing event. 

WW also forecast 2024 revenue on Wednesday that missed Wall Street’s expectations, a sign its attempts to turn around several years of declining sales don’t appear to be working.