NEW YORK — Weight Watchers International, Inc. (NYSE: WTW) has announced that Mindy Grossman is leaving the Home Shopping Network to become President and Chief Executive Officer of the company beginning in July.
Shares in Weight Watchers were up 5% in after-hours trading Wednesday when the news was released.
Ray Debbane, Chairman of the Weight Watchers Board of Directors, commented, “I’m delighted that Mindy will be joining Weight Watchers as CEO and Director. 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.”
Ms. Grossman remarked, “I am thrilled to join Weight Watchers and lead the next phase of the Company’s transformation. This is a tremendous opportunity to leverage technology and consumer insights to create innovative personal experiences, build loyal communities and accelerate growth. Ultimately, the ability to inspire people to live healthier and happier lives is what excites me both personally and professionally. I look forward to partnering with the Board – including Oprah – and the team to help Weight Watchers transform the lives of people around the world through weight loss and healthier living.”
Oprah Winfrey said, “Mindy is proven as a successful visionary and entrepreneurial force in business and I look forward to working with her. She has the experience, the passion and the positive energy to take Weight Watchers to exciting new places.”
Ms. Grossman joins Weight Watchers from HSN, Inc. where she served as CEO since 2008, growing the company to become a $4 billion direct-to-consumer content and commerce leader that today derives over half its revenues from digital commerce. Under her leadership, she transformed the HSN brand into a lifestyle network, launched industry-leading digital innovations and formed unique and successful partnerships with leading brands and personalities. She is widely recognized as an accomplished business leader, innovator and champion for workplace diversity and equality, having been named three times by Forbes magazine as one of the world’s 100 most powerful women, among other awards and recognitions.
Mindy Grossman has more than 38 years of experience in building and transforming consumer brands. From 2008-2017, she served as Chief Executive Officer of HSN, Inc. and a member of the company’s Board of Directors. Ms. Grossman joined IAC, HSN’s former parent company, in 2006 as CEO of IAC Retail. Earlier career highlights include serving as Global Vice President at Nike, Inc., President and CEO of Polo Jeans Company, Vice President of New Business Development at Polo Ralph Lauren Corporation, President of ChapsRalph Lauren, and Senior Vice President of Menswear for Warnaco, Inc. She also held senior positions at Tommy Hilfiger and Oxford Industries.
In 2014, Ms. Grossman was recognized as one of Fast Company’s Most Creative People in Business and Fortune’s Business Person of the Year. In 2013, Forbes magazine named Ms. Grossman one of the world’s 100 most powerful women, an honor she has received three times. In 2011, she was named Corporate Innovator of the Year at the Ernst & Young Entrepreneur of the Year Florida Awards. In both 2010 and 2011, Mindy was ranked by the Financial Times as one of the top 50 women in world business.
Ms. Grossman serves as Chairman of the National Retail Federation Board of Directors. She also serves as Vice Chairman for UNICEFUSA and is a member of the Board of Directors of Bloomin’ Brands. Additionally, Ms. Grossman is a member of the U.S. Commerce Department’s Digital Economy Board of Advisors.
Until Ms. Grossman’s arrival, the company will continue to be led by the members of the Interim Office of the CEO, Nicholas Hotchkin, Chief Financial Officer, and Thilo Semmelbauer and Christopher Sobecki, Directors of the company.