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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BJP trying to add illegal voters from outside in Bengal electoral rolls: Mamata
Kolkata (PTI): West Bengal Chief Minister Mamata Banerjee on Tuesday alleged that the BJP was trying to include illegal voters from Bihar, Rajasthan, Haryana and Uttar Pradesh in the electoral rolls of the state to turn the poll outcome in favour of the saffron party.
Addressing an election rally in Paschim Medunipur’s Chandrakona, Banerjee also reiterated her plea before the gathering to ignore who the TMC candidates in the state’s assembly segments were and consider her as the candidate in all 294 seats.
“I was informed by Abhishek (Banerjee) yesterday that he had to rush to the EC office in Kolkata from the middle of his campaign schedule upon receiving information that about 30,000 forms were submitted in a single day to include fresh voters,” the TMC supremo said.
“The BJP is trying to include illegal voters from Bihar, Rajasthan, Haryana and Uttar Pradesh in the electoral rolls of Bengal. They are planning to transport outstation voters by means of railways, as they did in Bihar,” she alleged.
Claiming that the saffron party has "no respect" for Bengal and its people, the chief minister accused the BJP of colluding with the Election Commission and deleting names of women and minorities from the state’s electoral rolls in the garb of the SIR exercise.
“The BJP and EC are snatching the citizenship, constitutional and democratic rights of people. We will fight them every inch of the way,” Banerjee said.
Maintaining that the BJP would impose “ban on non-veg food consumption” of Bengalis if it comes to power in the state, the CM said the TMC would thwart the Centre’s attempts to implement NRC in the state through a backdoor and its plans of sending targeted citizens to detention camps.
