After 17 years at the helm of next generation sequencing giant Illumina, CEO Jay Flatley is stepping down, the company said in a statement. He’s assuming the role of executive chairman of its board of directors, and President Francis deSouza will take over in July as the San Diego company’s chief executive.
Flatley has been with Illumina since 1999, and grew the company from a small fish that netted some $500,000 in annual revenue to a genomics powerhouse with $2.2 billion in revenue in 2015.
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Indeed, Illumina has grown exponentially in recent years – launching spinouts such as the consumer-facing Helix and the cancer-chasing Grail, and creating an accelerator for startups in the genomics space.
Flatley plans to spend more time with his family as he transitions into this new role, a representative for Illumina said – and that the decision reflects his belief that deSouza is ready to lead the company.
“The time is right for Francis to become Illumina’s next President and CEO,” Flatley said in the statement. “Francis is an exceptional leader, with a demonstrated track record of leading large organizations and implementing complex growth strategies. I look forward to partnering with him in his new role to continue the company’s strong legacy of innovation and execution.”
DeSouza, a former president at network security behemoth Symantec, joined Illumina in 2013. Since, he’s helped oversee product development, commercial operations and manufacturing processes. He’s been involved in launching the HiSeq 4000 and helped introduce the MiniSeq, Illumina said in the statement.
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“I joined Illumina because I believe in the enormous potential of our mission to improve human health by unlocking the power of the genome,” deSouza said in a statement. “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.”
