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Illumina Stock Gains 3% After CEO Resigns
Jun 13, 2023(Last modified: Dec 19, 2023)
Illumina Inc (NASDAQ:ILMN) shares rose more than 3% yesterday as CEO Francis deSouza resigned. Illumina's board accepted the resignation and named Charles Dadswell as interim CEO while they search for a successor.
The departure is seen as a win for activist investor Carl Icahn, who opposed Illumina's acquisition of Grail in 2021, claiming it cost investors billions. Illumina's stock has dropped 60% since the Grail acquisition. Icahn expressed satisfaction with the leadership change but felt it should have happened earlier.
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