Carl Icahn's Power Play at Illumina: Potential Board Changes and Management Overhaul
Portfolio Pulse from Vandana Singh
Activist investor Carl Icahn is reportedly close to securing enough shareholder support to place his nominee, Andrew Teno, on Illumina Inc's board. Icahn, who holds a 1.4% stake in the company, has nominated three candidates for the board, potentially leading to the removal of CEO Francis deSouza and Chairman John Thompson. Icahn has previously called for management changes and the divestment of Grail Inc.
May 25, 2023 | 12:19 pm
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Carl Icahn is close to securing enough shareholder support to place his nominee on Illumina's board, potentially leading to management changes and the divestment of Grail Inc.
Carl Icahn's potential influence on Illumina's board could lead to significant management changes and the divestment of Grail Inc. This uncertainty may negatively impact the stock price in the short term as investors may be concerned about the company's future direction and stability.
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