All Seven 23andMe Independent Directors Resign Over CEO's Privatization Plan

Sep 18, 2024, 02:45 PM

All seven independent directors of 23andMe have resigned from the company's board, citing a lack of progress on CEO Anne Wojcicki's proposal to take the company private. The directors expressed disappointment over Wojcicki's failure to provide an actionable proposal after five months of delays. This mass resignation follows an incomplete buyout offer that was rejected in August. Wojcicki has stated she is still committed to the privatization plan and expressed surprise and disappointment at the board's decision. The resignations come amid other challenges for 23andMe, including a recent $30 million settlement for a genetic privacy lawsuit and a significant drop in the company's stock price.