Gene sequencing test maker Illumina Inc. said Sunday that its board has accepted the resignation of its CEO and director, Francis deSouza, effective immediately.
Charles Dadswell, senior vice president and general counsel, has been named interim CEO, while the board conducts a search for a new CEO. Illumina said deSouza, who has been with the company since 2013 and was named CEO three years later, will stay on in an advisory capacity until July 31.
“Illumina’s technology remains at the forefront of DNA sequencing and has continued to set the pace for the industry,” Illumina's board chair, Stephen P. MacMillan, said in a statement. “We are confident Illumina can continue to execute on its goals, while we conduct and complete a CEO search process.”
The company, based in San Diego, said the board is looking at internal and external candidates.
The resignation comes as Illumina has been locked in a monthslong heated battle with activist investor Carl Icahn, over its $7.1 billion acquisition of cancer test maker Grail that has faced regulatory hurdles. Icahn had urged shareholders to vote out its chairman, John Thompson, and deSouza. Company shareholders voted out Thompson in late May.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
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