Illumina Inc. (NASDAQ: ILMN) announced that CEO Francis deSouza has resigned from the DNA sequencing and array-based tech developer.
The news, announced yesterday, comes more than a week after Hologic CEO Stephen MacMillan became non-executive board chair. Edwards Lifesciences CFO Scott Ullem filled a second new seat, bringing the board seat total to 12.
Illumina experienced some board changes after activist investor Carl Icahn’s candidate knocked the previous board chair John Thompson out of his position, though deSouza was able to survive his own Icahn-supported challenge.
“We thank Francis for his contributions and leadership, and are very excited about embarking on the next chapter of Illumina’s great journey,” MacMillan said in a news release. “Illumina’s technology remains at the forefront of DNA sequencing and has continued to set the pace for the industry. We are confident Illumina can continue to execute on its goals while we conduct and complete a CEO search process.”
Charles Dadswell, Illumina SVP and general counsel, will serve as interim CEO while the board of directors conducts an internal and external search for a new CEO. Meanwhile, deSouza will stay on in an advisory capacity until July 31.
“When I joined this company in 2013, we talked about making the company more clinical, more digital, and more global. On behalf of patients, clinicians and physicians everywhere, I’d like to thank the thousands of Illumina employees who made it happen,” deSouza said. “We have made great progress together, but I believe we are still at the very beginning of the impact Illumina will have on human health by unlocking the power of the genome.”
Icahn’s challenge came amid criticism and regulatory scrutiny over how Illumina management handled its $7.1 billion acquisition of cancer test maker Grail.
Illumina is presently appealing a Federal Trade Commission order to divest Grail in order to protect competition to develop better cancer tests.
One open question is whether a new permanent CEO will think it strategically makes sense to continue trying to hold onto Grail.
