Illumina Names New CEO
Illumina is closely associated with Mr. Flatley due to the length of his tenure and the company’s rapid and sustained growth under him. Following the announcement, Illumina shares declined 6.9% on March 8.
Washington, DC 2/28/16; San Diego, CA 3/7/16—Illumina has announced that Chairman and CEO Jay Flatley will move to a new role, executive chairman, effective July 5. Mr. Flatley was named chairman on January 28. He has served as CEO since 1999, when he joined the company. President Francis deSouza has been named president and CEO. “Francis is an exceptional leader, with a demonstrated track record of leading large organizations and implementing complex growth strategies,” commented Mr. Flatley. “I look forward to partnering with him in his new role to continue the company’s strong legacy of innovation and execution.” Mr. deSouza joined Illumina as president in 2013 (see IBO 11/15/13).

