Illumina CEO resigns under pressure from activist investor Carl Icahn

Illumina CEO resigns under pressure from activist investor Carl Icahn

NEW YORK (AP) — Genetic sequencing test maker Illumina announced Sunday that its board of directors has accepted the resignation of CEO and director Francis D’Souza, effective immediately.

Senior Vice President and General Counsel Charles Doswell has been appointed Interim CEO and the Board is in the process of searching for a new CEO. Illumina said D’Souza, who has been with the company since 2013 and was appointed CEO three years later, will remain in the advisory role until July 31.

“Illumina technology remains at the forefront of DNA sequencing and continues to set the pace for the industry,” Illumina board chairman Stephen P. McMillan said in a statement. “We are confident that Illumina will continue to meet its goals while we conduct and complete our CEO discovery process.”

The San Diego-based company said its board is considering internal and external candidates.

The resignation comes amid a months-long battle with activist investor Carl Icahn over Illumina’s $7.1 billion acquisition of cancer test maker Grail, which faces regulatory hurdles. rice field. Icahn has called on shareholders to vote out Chairman John Thompson and D’Souza. Company shareholders fired Thompson in late May.

https://www.siliconvalley.com/2023/06/11/illumina-ceo-resigns-amid-pressure-from-activist-investor-carl-icahn/ Illumina CEO resigns under pressure from activist investor Carl Icahn

Leave a Reply

Your email address will not be published. Required fields are marked *