23andMe Board Resigns in Feud Over CEO Anne Wojcicki’s Plan to Take Company Private

23andMe Board Resigns

In a surprising turn of events, the entire board of directors of 23andMe has resigned in protest of CEO Anne Wojcicki’s plan to take the company private. The news was first reported by The Wall Street Journal, which cited anonymous sources familiar with the matter.

Wojcicki has been the CEO of 23andMe since its founding in 2006. The company is a leader in the field of personal genomics, and its mission is to help people understand their genetic makeup and how it affects their health.

Feud Over CEO’s Plan

The board’s resignation is the culmination of a months-long feud between Wojcicki and the board over her plan to take the company private. Wojcicki has argued that taking the company private would give her more flexibility to pursue long-term goals, such as developing new products and expanding into new markets.

The board, however, has been concerned that taking the company private would undervalue it and deprive shareholders of the opportunity to share in its future growth. The board has also been concerned about Wojcicki’s management style, which some have described as autocratic.

23andMe’s Future

The board’s resignation has cast doubt on the future of 23andMe. The company is still in the early stages of development, and it is unclear whether it will be able to survive without a strong board of directors.

The company’s stock price has fallen sharply since the news of the board’s resignation was announced. Investors are concerned that the company may not be able to continue to operate as a going concern without a strong board of directors.

The board’s resignation is a major setback for Wojcicki and her plans for the company. It is unclear what the future holds for 23andMe, but the company’s future is now in doubt.

Conclusion

The board’s resignation is the latest in a series of setbacks for 23andMe. The company has been struggling to turn a profit, and it has been facing increasing competition from other companies in the field of personal genomics.

It is unclear whether 23andMe will be able to survive without a strong board of directors. The company’s future is now in doubt.