All seven independent directors of 23andMe resigned from the company’s board, which has left CEO Anne Wojcicki “surprised and disappointed,” Ashley Capoot of CNBC reports, citing a memo sent to employees. Despite their departure, however, Wojcicki said she remains committed to taking the company private. In a letter to Wojcicki, the directors said they have yet to see a “fully financed, fully diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders” and disagree with Wojcicki about the “strategic direction for the company,” leading to their decision to resign immediately.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ME:
- Morning Movers: General Mills dips following Q2 report
- Mass Resignation at 23andMe Amid Strategic Disagreements
- 23andMe independent directors resign, issue letter to CEO Anne Wojcicki
- Independent Directors of 23andMe Resign from Board
- 23andMe announces in vivo results for 23ME-01473 in Phase 1 trial