23andMe welcomes three new board members after sudden departures.

• The company announced the appointment of three new independent directors to its board on Tuesday, as stated.
• A month after the sudden resignation of all seven of 23andMe's independent directors, an announcement is made.
• The board of the company will be joined by Andre Fernandez, Jim Frankola, and Mark Jensen, along with CEO Anne Wojcicki.

The company appointed three new independent directors to its board one month after all seven of its previous directors abruptly resigned, as announced Tuesday.

The new board members are Andre Fernandez, Jim Frankola, and Mark Jensen, while the only other board member is Anne Wojcicki, the co-founder and CEO of 23andMe.

The company announced that Frankola, Jensen, and Fernandez will all serve on the board's audit and compensation committees. Jensen will act as the lead independent director and chair of the compensation committee, while Fernandez will chair the audit committee.

Wojcicki expressed excitement about welcoming three experienced directors to the 23andMe Board and is eager to collaborate with them, as stated in the release.

In September, Wojcicki received a letter from 23andMe's independent directors who resigned, stating their disagreement with her regarding the "company's strategic direction."

The genetic-testing company, valued at $6 billion when it went public in 2021 through a special purpose acquisition company (SPAC), has struggled since then. Shares were hovering below $1 until 23andMe announced a 1-for-20 reverse stock split of the Company's Class A and Class B common stock earlier this month.

The company's stock was trading around $5 on Tuesday morning.

In July, Wojcicki proposed taking 23andMe private, but the special committee rejected it due to a lack of committed financing and no premium to the closing price of 40 cents per share.

According to the September letter, the directors gave Wojcicki the chance to submit a more fitting revised proposal, but they did not receive one.

It is in the best interests of the Company's shareholders for us to resign from the Board rather than have a prolonged and distracting disagreement with you regarding the direction of the Company.

Wojcicki has consistently stated her dedication to keeping the company private after the board members left.