Glass Lewis backs Carl Icahn attempt to replace Illumina CEO and chair
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Proxy adviser Glass Lewis is recommending that Illumina (NASDAQ:ILMN) shareholders withhold support for CEO Francis deSouza and board chairman John Thompson, a boost to Carl Icahn's proxy battle.
Glass Lewis said shareholders would be better off backing two of Icahn's nominees.

The report noted that the current board has refused to accept responsibility for the "costly, distracting and value crimping" decision to finalize the GRAIL acquisition despite the objections of US and EU regulators, the Financial Times reported.
Glass Lewis also noted Illumina's (ILMN) poor operating performance, value creation and overall corporate governance.
The proxy advisor also gave the company an "F" for a board decision to nearly double deSouza's total pay package in 2022 despite the company's lackluster stock performance.

More on Illumina and Carl Icahn

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