JOYDEEP GOSWAMI APPOINTED INTERIM CFO; SAM SAMAD TO DEPART ILLUMINA

Rhea-AI Summary

Illumina (NASDAQ: ILMN) has announced that Joydeep Goswami will serve as interim Chief Financial Officer following the departure of Sam Samad on July 8, 2022. Goswami, who has extensive experience in senior management roles, will oversee CFO responsibilities while the company searches for a permanent replacement. Illumina's CEO praised Samad for his contributions during his five-year tenure. The company continues to focus on innovation in DNA sequencing and array-based technologies aimed at enhancing human health.

Positive

• Appointment of Joydeep Goswami as interim CFO to ensure continuity in financial leadership.
• Goswami brings over a decade of senior management experience, providing reassurance to investors.

Negative

• Departure of CFO Sam Samad may create uncertainty during the transition period.

SAN DIEGO, June 9, 2022 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, today announced Joydeep Goswami, Chief Strategy and Corporate Development Officer, will also serve as interim Chief Financial Officer while the company conducts a search for a permanent CFO. Sam Samad will be departing Illumina on July 8, 2022, after serving as CFO for more than five years.

In addition to Goswami's current responsibilities, which include leading a variety of strategic initiatives in partnership with the Finance organization, like capital allocation, financial planning, and deal execution, he will assume all CFO duties on an interim basis. Prior to joining Illumina, Goswami had more than a decade of senior management and P&L responsibilities at Thermo Fisher Scientific, and previously served pharma, technology, and private equity clients at McKinsey & Company. He holds an M.S., Ph.D. in chemical engineering, and an MBA from the Massachusetts Institute of Technology as well as a bachelor's degree in chemical engineering from the Indian Institute of Technology, Mumbai.

"Sam has made significant contributions to our Finance organization and the company during his time at Illumina," said Francis deSouza, Illumina's Chief Executive Officer. "I'd like to thank him for his leadership and wish him every success in his future role. As we execute our CFO search, I am grateful for Joydeep's deep global business experience and collaboration with our strong Finance leadership team. He is an established, trusted leader who will bring both strategic and operational mindsets to drive shareholder value."

About Illumina

Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture and other emerging segments. To learn more, visit www.illumina.com and connect with us on Twitter, Facebook, LinkedIn, Instagram, and YouTube.

Investors:
Salli Schwartz
858.291.6421
IR@illumina.com

Media:
Sarah Shew
US: 858.336.3157
PR@illumina.com

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SOURCE Illumina, Inc.

FAQ

Who has been appointed as interim CFO of Illumina (ILMN)?

Joydeep Goswami has been appointed as the interim Chief Financial Officer of Illumina.

When will Sam Samad leave Illumina?

Sam Samad will depart from Illumina on July 8, 2022.

What is Joydeep Goswami's background?

Joydeep Goswami has extensive experience in senior management and P&L responsibilities, including roles at Thermo Fisher Scientific.

What are the implications of the CFO transition for Illumina (ILMN)?

The transition may create uncertainty, but Joydeep Goswami's experience is expected to provide stability.