Executive Shakeup at Illumina: CEO Francis deSouza Steps Down Amid Activist Investor Carl Icahn's Pressure
Portfolio Pulse from Vandana Singh
Illumina's CEO Francis deSouza has resigned amid pressure from activist investor Carl Icahn over the company's controversial $7.1 billion acquisition of cancer test maker Grail. Charles Dadswell has been named interim CEO while the board searches for a new CEO.

June 12, 2023 | 12:02 pm
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Illumina's CEO resignation amid pressure from Carl Icahn may lead to changes in the company's strategy, potentially impacting its stock price.
Francis deSouza's resignation as Illumina's CEO comes amid pressure from activist investor Carl Icahn, who has criticized the company's management and its acquisition of Grail. This development may lead to changes in the company's strategy, which could impact its stock price. However, the stock price has increased by 2.98% in the premarket session, indicating that the market may view this change positively.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100