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Cape Town - A drop in the share price of Weight Watchers, in which Oprah Winfrey has a 10% stake, has shaved off about $117m of her wealth, according to USA Today.
The media star, who for years has struggled publicly with her weight, announced earlier this year she lost 12 kilos on the plan. She then bought a 10% stake in Weight Watchers for $43.2m and also joined the New York company's board.
"Weight Watchers has given me the tools to begin to make the lasting shift that I and so many of us who are struggling with weight have longed for," Winfrey said, reported Reuters.
According to Bloomberg, investors cheered the news of Winfrey's involvement in the company with the value of Weight Watchers' shares skyrocketing from less than $7 to more than $26.
However, the stock has since retreated, losing more than half its value this year.
On Wednesday the shares closed at $9.79, little changed from its Tuesay close of $9.78.
The share price rout on Tuesday was in reaction to news that CEO James Chambers, who has led Weight Watchers since 2013, will leave at the end of September. This comes as the weight-loss programme operator struggles to build on the momentum it garnered since Winfrey joined the company.
"I am proud of the team's accomplishments in returning the Company to growth through the successful launch of Beyond the Scale and our long-term partnership with Oprah Winfrey. I am confident that Weight Watchers has the right strategies to play a major role in helping to inspire and guide the healthier choices that transform people's lives," Chambers said in a statement.
Weight Watchers said the board established a committee that includes Winfrey to search for a permanent CEO.
"We remain confident we will deliver revenue and earnings growth in 2016," said Weight Watchers chief financial officer Nicholas Hotchkin.
He said the current period is forecast to show the fourth straight quarter of member-recruitment growth.
For its second quarter ended July 2, the company reported flat revenue of $309.8m. This fell short of the average analyst estimate of $318.5m, according to FactSet.
Earnings rose 9.4% year-on-year, but earnings per share declined as the company had more shares outstanding. For the full year, Weight Watchers raised the lower end of its range of expected profit, to between 90 cents and $1.05 per share, according to AP.
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