Premca Capital, an investment fund with a less than 1% stake in WeightWatchers (WW), is launching a proxy fight, and is seeking board seats and hundreds of millions of dollars in cost cuts, The Wall Street Journal’s Ben Glickman reports. Premca has nominated three directors for election to WeightWatchers’ board and wants the company to cut costs by $200M-$300M on top of the cuts it has already been making, according to people familiar with the matter. The fund is also pushing for a management overhaul, a revamp of the WeightWatchers app and the adoption of a growth plan, according to the people familiar with the matter.
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