23andMe board resigns in feud over CEO Anne Wojcicki's plan to take company private

  • 📰 nypost
  • ⏱ Reading Time:
  • 31 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 67%

Business News

Data Breach,Dna,Resignations

The board resignations followed CEO Anne Wojcicki’s latest proposal to take the company private.

All seven members of 23andMe’s board resigned in a stinging rebuke to a proposal by CEO Anne Wojcicki’s plans to to take the company private. “I am surprised and disappointed by the decision of the directors to resign,” Wojcicki said in a memo Tuesday to employees obtained by The Post.All seven members of 23andMe’s board resigned on Tuesday after an unsatisfactory proposal from CEO Anne Wojcicki to take the company private.

“After months of work, we have yet to receive from you a fully financed, fully diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders,” the board members said in The board – which included doctors, venture capitalists and YouTube CEO Neal Mohan – said it was “clear that we differ on the strategic direction for the Company going forward.”Its business model does not often invite repeat customers – since one DNA test is all a person needs for their ancestry results.23andMe revealed a data breach – which included customers’ personal information – last year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in CA

Canada Canada Latest News, Canada Canada Headlines