23andMe Files for Bankruptcy, CEO Anne Wojcicki Resigns Amid Data Breach Crisis
23andMe, the DNA testing company, has filed for Chapter 11 bankruptcy protection, signaling a major upheaval in its operations. The filing comes after a series of challenges, including a significant data breach that affected millions of customers. In a move to restructure and potentially sell the company, 23andMe announced that its co-founder and CEO, Anne Wojcicki, has stepped down from her leadership role. The company's financial difficulties have been exacerbated by the data breach, leading to legal action from affected customers and prompting California Attorney General Rob Bonta to issue a consumer alert.
The Chapter 11 filing is part of a strategic plan to reorganize and possibly sell the company. The data breach, which exposed sensitive genetic and personal information, not only led to Wojcicki's resignation but also triggered a wave of lawsuits against 23andMe. As the company navigates through bankruptcy, it faces the dual challenge of restoring customer trust and securing its future in the competitive DNA testing market.
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