Illumina Inc‘s Chief Executive Officer Francis deSouza resigned Sunday after constant pressure from activist investor Carl Icahn, who had been seeking his removal.
DeSouza had initially survived Icahn’s attack as one of eight directors re-elected to the DNA-sequencing company’s board last month. However, shareholders elected Andrew Teno, a portfolio manager at Icahn Capital, to the board at the May 25 meeting.
“After 10 life-changing years, I have decided that it’s time for me to hand over the reins,” deSouza wrote in a letter to employees posted on his LinkedIn page. “Leaving you will be a loss, deeply felt. That said, I leave with a sense of fulfillment and pride at where, together, we have taken the company.”
Charles Dadswell, senior vice president and general counsel, has been named interim CEO while company embarks on a search for a replacement.
DeSouza joined the company in 2013 and has been CEO since 2016. He will remain in an advisory capacity until July 31.
By Tiago Ramos Alfaro/Bloomberg
