Entire board walks out as 23andMe's CEO Anne Wojcicki stands firm amid turmoil
In a surprising turn of events, the entire board of directors at 23andMe, a DNA testing company based in San Francisco, resigned in September after a contentious month-long dispute regarding co-founder and CEO Anne Wojcicki's plans to take the company private. Following the mass resignations, Wojcicki, who holds 49.75% of the voting rights, is now the sole board member of the company.
The departing board members, including notable figures like YouTube CEO Neal Mohan and Sequoia Capital's Roelof Botha, expressed their ongoing belief in 23andMe's mission to personalize healthcare through genetic data. However, they indicated a fundamental disagreement with Wojcicki's strategic vision for the company's future.
In her first interview with Fortune since the board's resignation, Wojcicki acknowledged the complexities of the situation but expressed confidence in her ability to guide the company through its challenges. The tension between her and the board had escalated over her proposal to take the company private, a move that arose as 23andMe's valuation plummeted from $6 billion in 2021 to under $150 million.
The company's troubles began following its initial public offering (IPO) in 2021, when its stock debuted at $10 (approximately ₹840) per share but has since struggled, dipping to a record low of $0.30 (around ₹25) in 2024. Despite significant efforts, 23andMe has yet to turn a profit, facing declining sales and serious privacy concerns after a major data breach. Additionally, its drug discovery business, which was a financial drain, has been shut down.
Wojcicki's plan to take the company private was initially rejected by the board, who cited the absence of a premium offer for shareholders. The deadlock ultimately led to the board's resignation, despite Wojcicki’s assertion that her voting rights reflect her commitment to the company’s success. "I've always said ever since the very beginning, I don't need to be in charge. There's no ego for me. I care about the vision and the mission," she remarked.
A former leader at 23andMe indicated that the board's departure was not unexpected, shedding light on Wojcicki's leadership style. While publicly charismatic, she has been characterized as stubborn and controlling behind closed doors. Former employees have pointed to her leadership challenges and internal power struggles as significant issues that have surfaced since the company's IPO.
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Telangana Task Force arrests Motivational Speaker Munawar Zama in idol vandalism case
In a significant development, the Telangana Task Force (T TASKF) arrested popular motivational speaker Munawar Zama and two hotel owners from Maharashtra today. The arrests are connected to the vandalism of an idol at a temple near the Secunderabad passport office, an incident that occurred during the night of October 13-14.
The primary suspect in the case, Salman Thakur from Mumbai, was staying at one of the Metropolis Hotels in Maharashtra during a personality development program. The police had previously arrested Thakur in connection with the incident, noting that many hotel rooms were rented by the organizers of the English Development program.
Authorities are expanding their investigation into the matter, with Munawar Zama and the hotel owners identified as key figures in the probe. While there is currently no evidence to support claims that Munawar delivered a hate speech, it is alleged that he provoked students, which led to the vandalism of the idol. Following this, the police took action, resulting in the arrest of the hotel owners and Munawar today.
