23andMe appoints new board members as it works to stem the company's slide

Core Insights - 23andMe appointed three new independent directors to its board following the resignation of all seven previous members due to concerns over the company's strategic direction [1][2][5] - The new directors are Andre Fernandez, Mark Jensen, and Jim Frankola, who will serve on the audit and compensation committees [3][4] - The company has faced significant challenges, including a user data leak in 2023, declining stock values, and consumer privacy concerns [5][6] Board Changes - The previous board members resigned in September, expressing disappointment in the company's strategic direction and a proposal to take 23andMe private [6][7] - The special committee formed by the board was dissatisfied with the proposal submitted by CEO Anne Wojcicki, indicating a lack of a fully-financed and actionable plan [6][8] - The new board members are committed to addressing the company's challenges and revitalizing its strategic direction [8] Compensation - Each new director will receive $1 million in cash compensation as per the SEC filing [9]