Illumina's Chief Executive Officer Francis deSouza, resigned following pressure from activist investor Carl Icahn. Although deSouza initially survived Icahn's attempt to remove him during a recent board election, the shareholders also elected a portfolio manager from Icahn Capital to the board. DeSouza expressed his decision to step down after ten years with the company in a letter to employees, stating that he left with a sense of fulfillment and pride. Icahn had criticized Illumina's board and management for the selling and subsequent repurchase of cancer-detection firm Grail Inc. at a higher price, as well as proceeding with the transaction despite opposition from European regulators. Meanwhile, Icahn himself has faced challenges from Hindenburg Research, which questioned the value of his investment firm and its dividend payouts.
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