NEW YORK (AP) — 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. In a Tuesday letter addressed to Wojcicki, the seven directors said they had yet to receive a “a fully financed, fully diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders” from the chief executive after months of efforts.
The directors said they would be resigning effective immediately — arguing that, while they still believed in 23andMe’s mission, their departures were for the best due to Wojcicki’s concentrated voting power and a “clear” difference of opinion on the company’s future.
Wojcicki later responded to the resignations in a memo to employees, published in a securities filing, saying she was “surprised and disappointed” by the directors’ decision. Still, she maintained that taking 23andMe private and “outside of the short term pressures of the public markets” would be best for the company long term.
Wojcicki added that 23andMe would immediately be identifying independent directors to join the board. Wojcicki, who holds 49% of the voting power at 23andMe, was the only remaining board member listed on the company’s website as of Thursday. A spokesperson had no further updates to share when reached by The Associated Press.
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.
Wojcicki announced her intention to take 23andMe private, by way of acquiring all outstanding shares that she doesn’t own, in April. Wojcicki also said that she wished to maintain control of the company and was not willing to support alternative transactions from other bidders. She submitted a proposal in late July, but the board’s evaluating committee found it to be wanting.
Beyond the resignations, 23andMe has made other a handful of other headlines in recent months — particularly around privacy concerns. Last week, 23andMe agreed to pay $30 million in cash to settle a class-action lawsuit accusing the company of failing to protect customers whose personal information was exposed in a 2023 data breach.
23andMe has shared preliminary support of the settlement, which is set to be heard by a judge for approval next month. In a statement, a spokesperson said that the company looked forward to finalizing the agreement, which it believe is “in the best interest of 23andMe customers.” The $30 million payment would settle all U.S. claims, the spokesperson added, and $25 million of it is expected to be covered by insurance coverage.
About the author
Timeless
Timeless Source: missionlocal.org
“My son was murdered in case of mistaken identity
The heartbroken mum of a teen murdered in a case of mistaken identity described the moment she found out her son had died - and how she couldn’t “protect him”. Nikki Knight’s son, Mason Rist, 15, and his friend, Max Dixon, 16, were “hunted down” and stabbed in a “revenge attack” after being wrongly identified as culprits of an earlier incident. The two pals were on their way to get a pizza when Anthony Snook, 45, arrived in his Audi with Riley Tolliver, 18, Kodi Wescott, 17, and two teenagers, aged 15, 16 and 17, who cannot be named for legal reasons. CCTV footage - from Nikki's house - captured the horrific 33 second attack which began when four youth jump of the vehicle on Mason's doorstep, just metres from her the family home in Knowle, Bristol, where he grew […]
Jim’s, Mission diner, will keep cooking under nonprofit ownership
Fear not, we won’t be missing the beloved green salsa at Jim’s Restaurant for some time — breakfast is here to stay. Mission Local has learned that the Mission Language and Vocational School will take over neighborhood mainstay Jim’s, which invited customers in today for its last day in business under current ownership. This afternoon, a line was seen reaching the corner of the building at 20th and Mission streets, and the diner had to take a waitlist for people to get in. Mission Language and Vocational School, a nonprofit that offers workforce development and small business supportive services, will staff the restaurant with graduates from its catering program and culinary school. The nonprofit will keep on Beto, the longtime cook. The owners, husband and wife Kim Ok Un and Kim Jung Nyun, are retiring. MLVS is expected to take over the restaurant […]
Lara Trump withdraws from consideration to replace Rubio in US Senate
By Jasper Ward(Reuters) -Lara Trump, daughter-in-law of President-elect Donald Trump, said on Saturday she has removed her name from consideration to replace outgoing U.S. Senator Marco Rubio.Rubio was picked by Trump to serve as secretary of state. Florida Governor Ron DeSantis will pick a replacement for Rubio, who is expected to resign as senator when Trump takes office on Jan. 20.There was speculation that Lara Trump, who served as co-chair of the Republican National Committee in the lead-up to the 2024 election, would succeed Rubio in the Senate.Trusted news and daily delights, right in your inboxSee for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories.However, in a post on X, Trump said she had decided to remove herself from consideration "after an incredible amount of thought, contemplation, and encouragement from so many.""I could […]
Hawk on the house
Hawk on the house Source: missionlocal.org
Burglars ransack Southern California homes while posing as deliverymen
Residents are frightened and angry as a group of suspects continue ransacking San Fernando Valley homes, leaving a trail of destruction behind.A Valley Village resident said she was stunned and shaken up after thieves targeted her home on Dec. 17 between 5 p.m. to 6 p.m.The break-in was captured on home surveillance cameras as a male suspect approached the house and appeared to be disguised as a delivery man.“Ten minutes after we left [our home], someone was knocking at the door and our dog was barking away,” she said. “Then within a minute, someone had broken into the back of the house, smashed the glass door, came in and locked the dog in a room and just trashed the house. They took all of my jewelry.”Photos of the aftermath showed drawers in every room were removed and emptied and all […]
Related
“My son was murdered in case of mistaken identity
The heartbroken mum of a teen murdered in a case of mistaken identity described the moment she found out her son had died - and how she couldn’t “protect him”. Nikki Knight’s son, Mason Rist, 15, and his friend, Max Dixon, 16, were “hunted down” and stabbed in a “revenge attack” after being wrongly identified as culprits of an earlier incident. The two pals were on their way to get a pizza when Anthony Snook, 45, arrived in his Audi with Riley Tolliver, 18, Kodi Wescott, 17, and two teenagers, aged 15, 16 and 17, who cannot be named for legal reasons. CCTV footage - from Nikki's house - captured the horrific 33 second attack which began when four youth jump of the vehicle on Mason's doorstep, just metres from her the family home in Knowle, Bristol, where he grew […]
Lara Trump withdraws from consideration to replace Rubio in US Senate
By Jasper Ward(Reuters) -Lara Trump, daughter-in-law of President-elect Donald Trump, said on Saturday she has removed her name from consideration to replace outgoing U.S. Senator Marco Rubio.Rubio was picked by Trump to serve as secretary of state. Florida Governor Ron DeSantis will pick a replacement for Rubio, who is expected to resign as senator when Trump takes office on Jan. 20.There was speculation that Lara Trump, who served as co-chair of the Republican National Committee in the lead-up to the 2024 election, would succeed Rubio in the Senate.Trusted news and daily delights, right in your inboxSee for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories.However, in a post on X, Trump said she had decided to remove herself from consideration "after an incredible amount of thought, contemplation, and encouragement from so many.""I could […]
Burglars ransack Southern California homes while posing as deliverymen
Residents are frightened and angry as a group of suspects continue ransacking San Fernando Valley homes, leaving a trail of destruction behind.A Valley Village resident said she was stunned and shaken up after thieves targeted her home on Dec. 17 between 5 p.m. to 6 p.m.The break-in was captured on home surveillance cameras as a male suspect approached the house and appeared to be disguised as a delivery man.“Ten minutes after we left [our home], someone was knocking at the door and our dog was barking away,” she said. “Then within a minute, someone had broken into the back of the house, smashed the glass door, came in and locked the dog in a room and just trashed the house. They took all of my jewelry.”Photos of the aftermath showed drawers in every room were removed and emptied and all […]
Police bust man at Gwinnett McDonald’s they say tried to sell home he didn’t own
Gwinnett County police arrested a man at a local McDonald’s who they say attempted to sell a property he did not own by stealing the identity of its rightful owner.Police say 55-year-old Armond Long, of Lilburn, posed as the property owner and listed the land for sale on Zillow.The scheme unraveled when the actual owner discovered the listing while the sale was pending and contacted authorities.Records show the land was pending for $130,000 before law enforcement got involved.“He didn’t have any intention of selling that property, so he contacted local authorities,” said Cpl. Juan Madiedo.TRENDING STORIES: Authorities in Lake Havasu City, Arizona worked with Gwinnett County police to set up a sting operation.Long agreed to meet at a McDonald’s near the Mall of Georgia to sign final closing documents. An undercover Gwinnett officer, posing as a courier, handed Long documents […]
Mother of Olentangy High student that inspired sextortion bill hopes it saves lives
Editor's note: This story discusses suicide and sexual abuse. If you or someone you know is struggling, you can call or text 988.Jennifer Markus spent much of Wednesday watching The Ohio Channel as a bill to make "sextortion" a felony wound its way among lawmakers.She's a pediatric care nurse at Nationwide Children's Hospital where her colleagues have offered comfort after her son Braden Markus took his life three years ago when someone posing as a high school girl on social media asked him for intimate photos and then demanded $1,800 so they wouldn't be published.He initially refused. But within 30 minutes, the boy who loved sports and fireworks and Japanese food, who was about to get his driver's license, was gone."It's bittersweet," Mrs. Markus told The Dispatch Thursday. "Holy crap. my friends and a lot of people just got this […]
Family Mourns 6-Year-Old Who Died After Escaping Home, Running Across Interstate
A family in San Jose, California, is mourning their 6-year-old son King Holguin, a nonverbal and autistic child who was fatally struck by a car Friday, Dec. 13, on Interstate 280, per ABC 7 News.King was two weeks shy of his seventh birthday when he died.“I just want to hold him,” the boy’s father, who was not identified, told the outlet Monday. “I want him back, but I know he is in a better place. He was always outgoing, loving and the house is quiet without him. But I know everyone misses him and I miss him.”A news release from the California Highway Patrol obtained Wednesday by People confirmed a pedestrian “ran into the number three lane” of the northbound interstate that night and was struck by a 2024 Nissan Altima driven by a 36-year-old San Jose local.The pedestrian was […]
