Fortune: 23andMe appoints three former CFOs as new directors - after the previous board all resigned

Robert Prilmeier, associate professor of finance, was interviewed for a Fortune story about 23andMe's decision to replace three of its board members who recently resigned with CFOs. The company announced that Andre Fernandez, a former CFO at WeWork Inc. and NCR Corp., Mark Jensen, a former CFO at Redleaf Group, and Jim Frankola, a former CFO at Cloudera Inc. and Yodlee Inc., had each been appointed as independent members of its board of directors.

23andMe’s stock has performed poorly since its IPO, Robert Prilmeier, professor of finance at Tulane University’s Freeman School of Business, said. “In this context, a likely motive for choosing directors with financial expertise would be to try to shore up shareholder confidence in the protection of their interests going forward,” Prilmeier said. 

To read the story in its entirety, visit fortune.com:

https://fortune.com/2024/10/31/23andme-new-directors-cfos-previous-board-resigned/