Weight Watchers (WTW) CTO/President WeightWatchers.com Resigns

February 14, 2013 7:33 AM EST
Weight Watchers International, Inc. (NYSE: WTW) disclosed that on February 13, 2013 Michael Basone, Chief Technology Officer and President, WeightWatchers.com, has informed the Company of his decision to resign from the Company effective May 31, 2013 in order to pursue other business opportunities. No successor has yet been named by the Company.

In order to ensure a smooth transition, Mr. Basone will continue working closely with David Kirchhoff, Chief Executive Officer of the Company, James Chambers, President and Chief Operating Officer of the Company, and the other members of the Company’s senior management team to manage the Company’s business until his Departure Date. In addition, in order to enlist Mr. Basone’s continuation of employment until the Departure Date and his help in the selection, training and transition of his positions to his successor, as may be reasonably requested by the Company, on February 12, 2013, the Company and Mr. Basone entered into a retention agreement with respect to Mr. Basone’s continued employment with the Company until the Departure Date.

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