23andMe co-founder lashes out at CEO Wojcicki after bankruptcy filing, says board lacked oversight
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 26 2025
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Source: CNBC
23andMe's Bankruptcy and Leadership Issues: Co-founder Linda Avey expressed her frustration over 23andMe's decline into Chapter 11 bankruptcy, attributing the company's struggles to a lack of consumer-focused product development and governance issues following her departure in 2009.
Future Plans and Governance Concerns: Despite the bankruptcy, former CEO Anne Wojcicki intends to pursue the company as an independent bidder, while Avey highlights the importance of balancing founder control with board oversight to avoid similar pitfalls in the future.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
