Genetics company 23andMe has filed for bankruptcy and its CEO is stepping down, leaving many users concerned about the future of their data.
On Monday, March 24, 23andMe announced that it has “initiated voluntary Chapter 11 proceedings” to “facilitate a sale process to maximize the value of its business.”
The company said that it “intends to continue operating its business in the ordinary course throughout the sale process,” and that there will be “no changes” to the way 23andMe “stores, manages, or protects customer data.”
23andMe also announced on Monday that co-founder Anne Wojcicki is resigning as CEO “effective immediately.” Joe Selsavage, Chief Financial and Accounting Officer, has been appointed as Interim Chief Executive Officer.
The proceedings come after a Special Committee rejected Wojcicki’s “final non-binding acquisition…
