CEO Francis deSouza Illumina's second major departure in weeks

Three months after activist investor Carl Icahn launched his proxy battle with Illumina Inc. (NASDAQ:ILMN), the next-generation sequencing company announced the resignation of CEO Francis deSouza after 10 years in the role. deSouza’s is the second major departure in weeks, as Chairman John Thompson failed in his re-election bid in late May. Illumina named SVP and general counsel Charles Dadswell as interim CEO, with deSouza staying on in an advisory role until July 31 while the company seeks a permanent replacement.

Icahn, which held a 0.3% stake in Illumina at March 31, was seeking a change in Illumina’s board after publishing complaints about how the company had handled its $7.1 billion acquisition of Grail Inc., the completion of which is being blocked by the EU and the U.S. Federal Trade Commission (FTC). Illumina is down about 60% since its peak in August 2021. ...