Washington Post Publisher Will Lewis Steps Down After Layoffs 
India–U.S. Interim Trade Pact Cuts Auto Tariffs but Leaves Tesla Out 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Yen Slides as Japan Election Boosts Fiscal Stimulus Expectations 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Instagram Outage Disrupts Thousands of U.S. Users 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Illumina Inc., the DNA-sequencing giant, announced the resignation of CEO Francis deSouza and the interim appointment of Charles Dadswell, previously the firm's SVP and General Counsel. The unexpected departure is seen as a victory for activist investor Carl Icahn, who had been pushing for deSouza's removal.
Prior to his appointment, Dadswell served as the senior vice president and general counsel at Illumina Inc. DeSouza's resignation was seen as a victory for activist investor Carl Icahn as he has been trying to remove the CEO from the DNA-sequencing firm.
As per Fortune, the outgoing chief survived Icahn's attacks on him after he was re-elected to the company's board late last month. He was among the eight executives to have earned a spot on the board, and the American financier was apparently against it.
The 87-year-old activist investor was said to have started pushing for board seats as early as March and criticized Illumina's board and management for selling and then buying back Grail Inc. later at a higher price. He also lambastes the company for pushing through with the deal even if the regulators in Europe opposed it.
Now, weeks after Icahn's failure to oust DeSouza, Illumina confirmed on Sunday, June 11, that its board of directors received the CEO's resignation, and they have accepted it. The company also released a statement for his departure and revealed its transition plans as well.
"We thank Francis for his contributions and leadership, and are very excited about embarking on the next chapter of Illumina's great journey," Illumina's chairman of the board, Stephen P. MacMillan, said in a press release. "Illumina's technology remains at the forefront of DNA sequencing and has continued to set the pace for the industry. We are confident Illumina can continue to execute on its goals while we conduct and complete a CEO search process."
Finally, Illumina said that as part of its transition plans, it is now looking for an executive who will permanently take over the role of CEO. The search will include both internal and external candidates. While DeSouza's resignation is already in effect, he will stay in the company as an adviser until July 31.
Photo by: Illumina/Wikimedia Commons(Public Domain)
_logo.jpg){kind=link}