Ms Wojcicki and its board of administrators were at odds for months.In a stunning transfer, all of the board of administrators at a Francisco-based DNA trying out corporate 23andMe resigned in September, following a heated month-long struggle over co-founder and CEO Anne Wojcicki’s plans to take the corporate personal. Because of this, Ms Wojcicki, who controls 49.75% of the vote casting rights, stays the only board member of the San Francisco-based corporate. In a public letter, the departing board contributors, together with YouTube CEO Neal Mohan and Sequoia Capital’s Roelof Botha, expressed their endured trust in 23andMe’s project to personalise healthcare thru genetic knowledge. Alternatively, they printed a deep-seated war of words with co-founder and CEO Anne Wojcicki’s strategic imaginative and prescient for the corporate.In her first on-the-record interview with Fortune for the reason that mass resignations, 23andMe CEO Anne Wojcicki expressed self assurance in navigating the corporate’s demanding situations, acknowledging the complexity of the placement.Significantly, Ms Wojcicki and its board of administrators were at odds for months. The war of words centred on her plan to take the corporate personal thru a buyout. This proposal got here as 23andMe’s valuation plummeted from $6 billion in 2021 to below $150 million.The corporate has confronted important demanding situations since its 2021 preliminary public providing (IPO). In spite of debuting at $10 (Rs 840) in keeping with proportion, the corporate’s inventory has struggled to regain momentum, failing to succeed in even a $1 (Rs 84) valuation in 2024. Following the mass resignation of its board contributors, the inventory worth plummeted to a list low of $0.30 (Rs 25).The corporate’s valuation has additionally taken successful, shedding dramatically from $6 billion in 2021 to below $150 million. Moreover, 23andMe has but to show a benefit, with slowing gross sales and a large knowledge breach exacerbating privateness issues. Its drug discovery industry, which used to be draining corporate sources, used to be in the end close down.Amidst those struggles, CEO Anne Wojcicki proposed a plan to take 23andMe personal. Alternatively, the board rejected her preliminary proposal, mentioning the loss of a top rate be offering to shareholders. As the bulk vote casting rights holder, Anne Wojcicki’s keep watch over in the end ended in a stalemate with the board, ensuing within the resignation of all contributors. Alternatively, Ms Wojcicki stated she sees her further vote casting rights as popularity of her willpower to the corporate’s luck.”I have at all times stated ever for the reason that very starting, I do not want to be in rate. There is not any ego for me. I care in regards to the imaginative and prescient and the project,” she advised Fortune. ”I am certain we’re going to spend a large number of time reflecting about what we can have executed differently. I feel we will navigate and land this aircraft however it’s completely difficult,” she added.A former 23andMe chief stated he used to be now not stunned through the board’s resignation, revealing a unique facet to Anne Wojcicki’s management. Whilst fascinating in public, Ms Wojcicki used to be described as cussed and controlling in the back of closed doorways. Former senior staff additionally pointed to her management shortcomings and gear struggles as main problems that surfaced after the corporate went public.
