The company filed for Chapter 11 bankruptcy protection and will continue operating while it seeks a buyer. Wojcicki resigned as CEO, effective immediately, but stayed on the company’s board. CFO Joe Selsavage has taken over as interim CEO.
Wojcicki wrote a post on X, formerly Twitter, with her reaction to the news.
“While I am disappointed that we have come to this conclusion and my bid was rejected, I am supportive of the company and I intend to be a bidder,” she wrote. “I have resigned as CEO of the company so I can be in the best position to pursue the company as an independent bidder.”
“We have had many successes but I equally take accountability for the challenges we have today,” she continued. “There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering.”
Last year, Wojcicki proposed taking the company private for 40 cents per share, but the company’s special committee of independent directors rejected it. Earlier in March 2025, she made another offer that was similarly rejected.
