23andMe Independent Board Directors Resign En Masse

Anne Wojcicki's Takeover Plan Sparks Mass Resignation

Board Cites Concerns Over Potential Conflicts of Interest, Lack of Independence

On Tuesday, January 17, 2023, news broke that six independent board directors of 23andMe had resigned en masse. The resignations were reportedly in protest of CEO Anne Wojcicki's plans to take the company private in a transaction that would give her majority control.

The resigning directors, who collectively represented a majority of the board's independent members, cited concerns over potential conflicts of interest and a lack of independence in the proposed deal. In a letter to Wojcicki, the directors expressed their belief that the transaction was not in the best interests of all shareholders.

The resignations were a significant blow to Wojcicki's plans, which required the approval of a majority of the company's independent directors. The departures leave the board with only two independent directors, raising questions about the validity of the proposed transaction.