Billionaire Activist Investor Carl Icahn Shows Support For Illumina's Newly Appointed CEO
Portfolio Pulse from Vandana Singh
Activist investor Carl Icahn has expressed his support for Illumina Inc's (NASDAQ:ILMN) new CEO, Jacob Thaysen. This comes as a relief for the company, which is recovering from a proxy battle with Icahn over its $7.1 billion acquisition of Grail in 2021. Icahn, who still holds a stake in Illumina, had been critical of the company's former CEO, Francis deSouza, under whose leadership the company's share price fell by 63%. Investors will be watching Thaysen's management of the Grail business and his efforts to rebuild the company's market value.
September 08, 2023 | 2:04 pm
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Carl Icahn's support for Illumina's new CEO could bring stability to the company after a period of contention. The new CEO's management of the Grail business and his ability to rebuild the company's market value will be closely watched by investors.
Carl Icahn's support for the new CEO is a positive sign for Illumina, as it indicates a potential end to the proxy battle that has been a source of instability for the company. If the new CEO can successfully manage the Grail business and rebuild the company's market value, this could lead to a positive impact on the company's stock price.
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