Illumina CEO DeSouza Resigns Following Pressure From Icahn (1)

Illumina Inc.’s board accepted the resignation of Chief Executive Officer Francis deSouza, handing a victory to activist investor Carl Icahn who had been seeking his removal.

DeSouza had initially survived the activist’s attack when he was one of eight directors re-elected to the DNA-sequencing company’s board last month. But Illumina’s shareholders also elected Andrew Teno, a portfolio manager at Icahn Capital, to the board at the May 25 meeting.

Francis deSouza

Photographer: Victor J. Blue/Bloomberg

“After 10 life-changing years, I have decided that it’s time for me to hand over the reins,” deSouza wrote in a letter to employees posted on his ...