- Push-out Score determined
- After about four years in the position
- Accolades, praise and thanks for Grossman
- Search for a successor
- Grossman spoke at length and said 157 words
(exechange) — New York, October 1, 2021 — Mindy Grossman, chief executive of WW, leaves. As announced by WW International Inc. in a news release and in a regulatory filing published on Friday, October 1, 2021, Mindy Grossman leaves her post as chief executive officer at the provider of weight loss services, after about four years in the role, effective after the first quarter of 2022.
WW will undertake a search for a successor.
“Drive consistent, sustainable growth over the long term”
WW did not give an explicit reason for Mindy Grossman’s departure from the CEO post. Raymond Debbane, Chairman of the Board of Directors, said: “As we search for Mindy’s successor, we find ourselves in the enviable position of having a strong digital membership, a beloved brand and an opportunity to drive our next generation product innovation in digital wellness and weight loss. The Board will take seriously its responsibility to appoint a new leader who will further the company’s leadership in the industry, compete in a digital marketplace and drive consistent, sustainable growth over the long term.”
Precise information regarding Mindy Grossman’s future plans was not immediately available.
“Step down”
WW said: “Mindy Grossman, President and CEO, who has led the brand’s transformation since 2017, has decided to step down as President and CEO after the first quarter of 2022.”
WW further said: “Mindy Grossman notified the board of directors of the Company (the “Board”) of her resignation as a director of the Company and as President and Chief Executive Officer of the Company, effective on the earlier of (i) the commencement of employment of any successor Chief Executive Officer (or interim replacement) and (ii) April 15, 2022 (such earlier date, the “Termination Date”).”
Share price decline since July 2017
The announcement follows a decline in WW International Inc.’s share price of 44% since July 2017. July 2017 is the month in which Grossman’s tenure as CEO began.
In the position of CEO since 2017
Mindy Grossman became CEO of the Company in 2017.
Grossman has served as a director and the Company’s President and Chief Executive Officer since July 2017.
Prior to joining the Company, she served as Chief Executive Officer of HSN, Inc., an interactive, multichannel retailer of fashion, household and lifestyle products, and a member of its Board of Directors from August 2008 to May 2017.
Prior to joining HSN, she served as Chief Executive Officer of IAC Retailing, a business segment of HSN’s former parent company, IAC/InterActiveCorp, a media and Internet company, from April 2006 to August 2008, and Global Vice President of Nike, Inc.’s apparel business from October 2000 to March 2006.
Earlier in her career, Grossman held various other executive positions in the retail industry, including President and CEO of Polo Jeans Company, Vice President of New Business Development at Polo Ralph Lauren Corporation, President of Chaps Ralph Lauren, and Senior Vice President of Menswear for Warnaco, Inc.
Grossman is a director of Fanatics, Inc. and was previously a director of Bloomin’ Brands, Inc.
She also serves as Vice Chairman for UNICEF USA.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mindy Grossman’s move on a scale of 0 to 10.
exechange reached out to WW and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2021 ($).