23andMe Faces Mass Exodus of Independent Board Directors

Background:

23andMe, a leading genetics company, has recently experienced a significant shakeup in its corporate governance with the mass resignation of its independent board directors.

Reasons for Resignations:

The directors have cited concerns over the company's "corporate governance practices, especially as they relate to the role and authority of the Independent Directors," according to a regulatory filing.

They also expressed dissatisfaction with the "lack of progress" on issues related to board composition, director independence, and shareholder rights.