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Illumina CEO resigns amid pressure from activist investor Carl Icahn

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Illumina Inc. announced on Sunday that its board of directors has accepted the resignation of its CEO and director, Francis deSouza, effective immediately.

While the board searches for a new CEO, Charles Dadswell, senior vice president and general counsel, has been named temporary CEO. DeSouza, who has been with the company since 2013 and was named CEO three years later, will remain on as an advisor until July 31.

“Illumina’s technology remains at the forefront of DNA sequencing and has continued to set the pace for the industry,” said Stephen P. MacMillan, chair of Illumina’s board of directors. “We are confident that Illumina will be able to continue to execute on its objectives while we conduct and complete a CEO search process.”

The board of the San Diego-based corporation is considering both internal and external candidates.

The departure comes as Illumina has been embroiled in a months-long struggle with activist investor Carl Icahn over its $7.1 billion acquisition of cancer test producer Grail, which has been hampered by regulatory problems. Icahn had pushed shareholders to vote out the company’s chairman, John Thompson, as well as deSouza. Thompson was fired by the company’s shareholders in late May.

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