Illumina CEO Francis deSouza has resigned, following pressure from activist investor Carl Icahn.
- Icahn has been pushing for changes at the gene-sequencing company, including a potential sale.
- deSouza will be replaced by Illumina’s current president, Susan Tousi, effective immediately.
- deSouza led Illumina for eight years and oversaw significant growth in the company’s revenue and market value.
- Icahn is one of Illumina’s largest shareholders, with a 7.6% stake in the company.
- Illumina has faced challenges in recent years, including competition from smaller rivals and regulatory hurdles.
- The company is currently working on a new gene-sequencing technology, which it hopes will boost its revenue and market share.