Overview

• The board members cited a lack of a fully financed, actionable proposal as the primary reason for their resignation.
• CEO Anne Wojcicki expressed surprise and disappointment at the mass resignation but remains committed to taking 23andMe private.
• Since its 2021 IPO, 23andMe's stock has plummeted more than 95%, with recent valuations below $200 million.
• The company has faced numerous challenges including declining DNA test sales, the end of a major research collaboration, and a significant data breach.
• Wojcicki is now urgently seeking new independent directors who support her vision to take the company private.