23andMe Files for Bankruptcy as CEO Anne Wojcicki Resigns — What Will Happen to Your DNA Data?

Genetics institution 23andMe has filed for bankruptcy and its CEO is stepping down, leaving galore users acrophobic astir the aboriginal of their data.

On Monday, March 24, 23andMe announced that it has “initiated voluntary Chapter 11 proceedings” to “facilitate a merchantability process to maximize the worth of its business.”

The institution said that it “intends to proceed operating its concern successful the mean people passim the merchantability process,” and that determination volition beryllium “no changes” to the mode 23andMe “stores, manages, oregon protects lawsuit data.”

23andMe besides announced connected Monday that co-founder Anne Wojcicki is resigning arsenic CEO “effective immediately.” Joe Selsavage, Chief Financial and Accounting Officer, has been appointed arsenic Interim Chief Executive Officer.

The proceedings travel aft a Special Committee rejected Wojcicki’s “final non-binding acquisition proposal” connected Monday, March 10, the institution added.

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Wojcicki said successful a connection posted to X that she stepped down “so I tin beryllium successful the champion presumption to prosecute the institution arsenic an autarkic bidder.”

“The 23andMe Special Committee released quality contiguous indicating their program to instrumentality the institution done the Chapter 11 process,” she wrote. “While I americium disappointed that we person travel to this decision and my bid was rejected, I americium supportive of the institution and I mean to beryllium a bidder.”

The erstwhile CEO said she takes accountability “for the challenges” presently facing the company, but added, “my content successful the institution and its aboriginal is unwavering.”

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Previously, 23andMe said Wojcicki intended "to instrumentality the institution private, and is not unfastened to considering 3rd enactment takeover proposals."

"Anne besides expressed her beardown committedness to lawsuit privacy, and pledged to support the company's existent privateness policy, including pursuing the intended completion of the acquisition she is pursuing," 23andMe said successful the erstwhile statement.

Related: Esther Wojcicki Opens Up About How She Raised Three Successful Daughters — Two CEOs and a Doctor

The 23andMe bankruptcy filing comes 4 months aft they laid disconnected astir 200 people, amounting to astir 40% of the company’s workforce, according to The Guardian.

The large changes to 23andMe person near galore radical wondering what volition hap to their data. The institution experienced a information breach successful October 2023, impacting astir 7 cardinal customers, NBC News reported.