Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Eric Sagonowsky (email) or Amirah Al Idrus (email | Twitter), and we will feature it here at the end of each week.
CEO Jay Flatley to step aside after 17 years of growth at Illumina |
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Illumina ($ILMN) CEO Jay Flatley has announced he's stepping down after 17 years at the post, handing the reins to Francis deSouza effective July 5. Flatley will head to the executive chairman's office after a tenure that saw the San Diego company grow yearly revenues from $500,000 to $2.2 billion last year. Flatley, who managed the company's expansion from 30 employees in 1999 to more than 4,800 in 2015, said "the time is right" for deSouza, currently Illumina's president, to shift into the CEO role. DeSouza joined in 2013 and has since worked with the board and the company's top management, including Flatley, to spur product development and marketing. "Today, having witnessed the impact our technology has on patients' lives, and having experienced the passion and dedication of our employees, I could not be more honored, or more confident in our future," deSouza said in a statement. Story
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