Illumina Inc ILMN shares are trading lower after the company appointed Jacob Thaysen as its new CEO, roughly three months after the company parted ways with Francis deSouza.
Francis deSouza resigned as Illumina has been locked in a proxy battle with activist investor Carl Icahn over its $7.1 billion acquisition of cancer test maker Grail, which has faced regulatory hurdles.
Thaysen will start in the role on September 25 and will also join the company’s board. Charles Dadswell, Illumina’s general counsel, has been serving as interim CEO since deSouza’s departure.
He will be relocating to the San Diego area from Northern California.
Most recently, Thaysen served as the president of Agilent Technologies Inc’s A life sciences and applied markets group.
His base salary will be $1 million, and as a signing bonus, he’ll receive $3.5 million in equity and a $500,000 cash payment. In 2024, he’ll receive a $10 million equity award.
Price Action: ILMN shares are down 5.47% at $159.24 on the last check Tuesday.
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