I am surprised and disappointed by the decision of the directors to resign. I have been committed to the mission of 23andMe for the last 18 years and believe strongly in the potential for genetic information to transform healthcare and the therapeutic discovery process.
The board wrote it had 'yet to receive from you a fully financed, fully diligenced, actionable proposal' about the plans. In April, Wojcicki said she wanted to buy the once-hot DNA company and take it private.
In August, a special committee formed by the board rejected her proposal, saying it provided 'no premium to the closing price per share,' lacked 'committed financing,' and was 'conditional in nature.'
While the board wrote in its letter that it supported 23andMe's overarching mission of personalized health, it diverged with Wojcicki on strategy. That, in turn, presented a 'distracting difference of view' given the concentration of her voting power.
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