The resignation of independent board members is particularly significant because these individuals typically serve as a check on management and represent the interests of shareholders. Their departure en masse suggests deep disagreements about the company's path forward or concerns about its governance.
The Privatization Plan
Wojcicki's revised plan to take 23andMe private presents its own set of challenges and implications:
Financing: Given the company's financial struggles, securing the necessary funding to buy out public shareholders could be difficult.
Valuation: Determining a fair price for the company in its current state is likely to be contentious.