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23andMe directors resign as the CEO of the genetic-testing company seeks to take it private

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All of 23andMe's independent directors have resigned from its board in a rare move that marks the latest challenge for the genetic-testing company.

All of 23andMe's independent directors resigned from its board this week, a rare move that marks the latest challenge for the genetic-testing company.The resignations follow drawn-out negotiations with 23andMe CEO and co-founder Anne Wojcicki, who wants to take the company private.

23andMe, which went public in 2021, has struggled to find a profitable business model since. The company reported a net loss of $667 million for its last fiscal year, more than double the loss of $312 million for the year prior.Shares for 23andMe have also plummeted — with the company's stock closing at 33 cents Thursday, down more than 97% since its 2021 stock market debut, according to FactSet.

 

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