23andMe files for bankruptcy as CEO Anne Wojcicki resigns

In the United States, 23andMe, a genetic testing firm, filed for Chapter 11 bankruptcy protection on March 23, 2025. The company is initiating a court-supervised sale of its assets as it seeks to address its financial challenges, which have been exacerbated by significant losses and issues related to privacy. In November 2023, 23andMe announced a workforce reduction of 40%, signaling deep financial distress. In recent months, the company also faced scrutiny following a data breach that compromised user data, leading to legal implications and a tarnished reputation. Anne Wojcicki, the co-founder and CEO of 23andMe, resigned immediately amid the bankruptcy proceedings. She had previously attempted to take the company private but was unsuccessful. Wojcicki expressed disappointment over the circumstances but stated her intention to participate as an independent bidder in the upcoming asset sale. The resignation has raised questions about the company's leadership and future direction as it navigates through the bankruptcy process, now led temporarily by Joseph Selsavage, the Chief Financial and Accounting Officer. Despite the bankruptcy, 23andMe will continue to operate during the proceedings, assuring customers that there won’t be changes to how their data is stored, managed, or protected. The company will seek bids from potential buyers in a 45-day period following approval of its bankruptcy filing, aiming to maximize its assets' value. The need to safeguard customer data remains an ongoing commitment amid increasing concerns regarding genetic data privacy and compliance with applicable laws. Overall, the filing for bankruptcy protection comes as part of a broader strategy to reorganize debts and asset management, with the hope of continuing 23andMe’s mission to provide genetic health information and ancestry insights. The future remains uncertain given the recent challenges, but the company remains hopeful about finding a suitable buyer and restructuring operations to support its ongoing activities in the genetic testing market.