Weight Watchers CEO James Chambers steps down after 3 years

Markets Associated Press

Weight Watchers is starting a search for a new chief executive because CEO James Chambers is leaving.

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The New York company said Monday that Chambers, who has led the New York company since 2013, is resigning at the end the month. He will also leave the company's board of directors.

Weight Watchers International Inc. says it has created an interim Office of the Chief Executive Officer, which will include Chief Financial Officer Nicholas Hotchkin, and director Christopher Sobecki and Thilo Semmelbauer, the companys former chief operating officer and a new director.

Shares of the weight loss program operator fell 4.4 percent in after-hours trading. The stock has lost more than half its value this year.