Weight Watchers said on Wednesday that Mindy Grossman, the current chief executive of Home Shopping Network, will soon be stepping in to lead the weight loss company. Investors reacted positively to the news and sent Weight Watchers shares up 13% in after-hours trading. Grossman, who had previous stints at Ralph Lauren, Nike and Tommy Hilfiger, looks likely to continue in Weight Watchers' tradition of leveraging celebrity spokespeople to bolster the company's image and membership. Weight Watchers was founded in 1963 and has struggled recently as fitness trackers and do-it-yourself diet and fitness programs rise in popularity. "I am thrilled to join Weight Watchers and lead the next phase of the company's transformation," said Grossman.

Source: Forbes April 26, 2017 20:49 UTC