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.