A WW International (WW) investor, Premca Capital, has launched a proxy fight against the parent company of WeightWatchers, nominating three directors and pushing for $200 million to $300 million in cost reductions, The Wall Street Journal reported Thursday, citing people familiar with the matter.
The activist investor, which has a less than 1% stake in WW International, also seeks management changes, a revamped app and the adoption of a growth plan, according to the Journal report.
In February, WW said it was on track to achieve $100 million in annual cost savings by the end of 2025, as part of a broader restructuring plan that includes job cuts, the report said.
WW International did not immediately respond to a request for comment from MT Newswires.
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