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Illumina Inc.
ILMN,
on Tuesday announced that its board has appointed Agilent Technologies Inc.
A,
senior vice president Jacob Thaysen as its new CEO, effective Sept. 25. The DNA sequencing company faced leadership turmoil after its proxy fight earlier this year with activist investor Carl Icahn, and CEO Francis deSouza stepped down in June. Evercore ISI analysts wrote in a research note last week that Illumina shares could be poised for a turnaround under new leadership, noting that “new CEOs can be powerful catalysts.” Thaysen’s “extensive background and experience in genomics, life sciences, and technology fits closely with Illumina’s mission,” the company said in a statement Tuesday, adding that the executive since 2018 has overseen the unit responsible for Agilent’s analytical instrument portfolio, informatics, and cell analysis franchise. Illumina shares gained 0.6% premarket on Tuesday and have declined 16.7% in the year to date, while the S&P 500
SPX,
has gained 17.6%.
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