23andMe (ME) Down 16% as CFO Schoch Resigns

23andMe Holding Co. (NASDAQ: ME) is down more than 16.6% on Friday after Steven Schoch announced his intention to resign from the company as CFO effective September 1st, 2022. Schoch will remain employed by ME through September 30, 2022, during which time he will assist in the transition of his responsibilities and duties.

The company’s recent 8-K filing assures that Schoch’s resignation is “not the result of any dispute or disagreement with the Company, including any matters relating to the Company’s accounting practices or financial reporting.”

On August 17, 2022, the Board of Directors of the Company approved the appointment of Joseph Selsavage as the Company’s Interim Chief Financial and Accounting Officer. Selsavage currently serves as the CFO of Lemonaid Health, Inc., which was acquired by the Company in November 2021 and is a wholly-owned subsidiary of 23andMe Holding Co..

Selsavage’s appointment will take effect on September 1st as Selsavage will serve as the Company’s principal financial officer and principal accounting officer on an interim basis pending an executive search being conducted by the Company.

By Michael Elkins | [email protected]

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