8:08 am, March 2, 2023
Key board member Anne Wojcicki has resigned as a director of Cazoo as the troubled car dealer continues to cut costs.
In an announcement to investors posted this morning, the company said Wojcicki was stepping down for ‘personal reasons’ and insisted her departure was not related to recent struggles.
A spokesman for the outfit said: ‘Ms Wojcicki is stepping down for personal reasons and the decision was not due to any disagreement with the Company regarding its business, finance, accounting and/or any other matters.
‘The board now consists of eight directors, five of whom are independent directors.’
Alex Chesterman, founder and CEO of Cazoo added: ‘Anne has been a valued member of the Cazoo board. I want to personally thank her for her insight and contributions to Cazoo and wish her all the best.’
Wojcicki initially joined Cazoo in April 2021 ahead of its listing on the New York Stock Exchange.
The US entrepreneur brought impressive pedigree to the role, as the founder and CEO of direct-to-consumer genetic testing company 23andMe.
Prior to co-founding 23andMe in 2006, she spent a decade on Wall Street, investing in healthcare, and graduated from Yale University with a BS in Biology.
She was previously married to Google co-founder Sergey Brin and her sister Susan Wojcicki was chief executive of YouTube until earlier this year.
Cazoo has been struggling with financial difficulties, which have left the retailer trying to recoup crippling losses.
Earlier this week, we reported that the firm had sold its sites in Northampton and Chertsey to Arnold Clark, in a deal worth £10.5m.
It has also sold its operations in Germany, Italy and Spain, shut down its car subscription business and is in the process of selling off a large proportion of its prep centres. Last week it sold its data business Cazana.
You can learn more about the chequered history of Cazoo here.
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