All seven independent directors of the DNA-testing company resigned on Wednesday, causing a major shake-up.
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00:00All seven independent directors of the DNA
00:02testing company 23 and me resigned on
00:05Wednesday causing a major shake up.
00:08The move follows disputes with
00:09founder and will Jitsky over her
00:11plan to take the company private.
00:1423 and me stock fell to $0.30 per share,
00:17and it struggles with profitability.
00:19The departing directors criticized
00:20will Jitsky's proposal and her control
00:23over 49% of the voting power will
00:25Jitsky now the sole board member
00:28plans to proceed with.
00:30Taking the company private
00:31despite these challenges.