(Reuters) - Weight Watchers International Inc said Mindy Grossman, current chief executive of HSN Inc , will join the diet company as CEO in July, sending the company's shares up nearly 13 percent in aftermarket trading on Wednesday.
Grossman, who has led HSN since 2008, will also join Weight Watchers' board, the company said in a statement.
Grossman was named Fortune's Business Person of the Year in 2014 and has been named one of the world's 100 most powerful women three times by Forbes magazine, Weight Watchers said.
She has more than 38 years of experience in the consumer industry, including in executive roles at Nike Inc , Polo Jeans Company and Polo Ralph Lauren Corp.
"Mindy is proven as a successful visionary and entrepreneurial force in business and I look forward to working with her," said media mogul Oprah Winfrey, who owns a 10 percent stake in Weight Watchers.
The company said in September last year that the former talk show queen would help it pick a new CEO following James Chambers' resignation after three years on the job.
Weight Watchers' shares were up 12.9 percent at $22.75 in aftermarket trading. They ended up 7 percent in regular trading on Wednesday, including hitting a new 52-week high, bringing their gains for the year to about 76 percent.
(Reporting by Narottam Medhora in Bengaluru; Editing by Savio D'Souza)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app