Illumina CEO Francis deSouza resigns after battle with Icahn By Reuters

2023-06-11 20:25:13

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(Reuters) – Illumina CEO Francis deSouza resigned on Sunday, the maker of gene-sequencing machines said in a statement, ending a battle with activist investor Carl Icahn in which the company’s chairman left earlier this month. year.

According to Illumina, Charles Dadswell, senior vice president and general counsel, has been named interim CEO. DeSouza will remain a consultant through July 31, he said.

Icahn tried to remove deSouza in an effort to force the company to undo its $7.1 billion acquisition of cancer diagnostic test maker Grail.

Antitrust regulators in the US and Europe ordered the company to cancel the deal, but Illumina went to court in both regions to prevent the move.

In a post on his Twitter account, Icahn said he is happy with the recent changes at Illumina and considers them a “very positive occurrence”.

“The new additions to the board, the CEO transition, as well as the change of chairman are significant positives that should drive value for all stakeholders and for human health,” he added.

(Reporting by Lavanya Ahire in Bengaluru and Caroline Humer in New York; Additional reporting by Anirban Sen in New York);