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Carl Icahn blasts Illumina for nearly doubling CEO’s pay despite steep drop in market value - TL;DR CNBC

Carl Icahn blasts Illumina for nearly doubling CEO’s pay despite steep drop in market value

Publishing timestamp: 2023-03-31 12:17:59


Summary

Activist investor Carl Icahn criticized Illumina for nearly doubling its CEO's pay last year despite the company's market value dropping by almost half since closing its controversial acquisition of cancer test developer Grail. Icahn, who owns a 1.4% stake in Illumina, is seeking seats on the company's board and pushing for the unwinding of the Grail acquisition, which he has called "disastrous" and "a new low in corporate governance." Illumina defended its management team's decision to acquire Grail and urged shareholders to reject Icahn's board nominations.


Sentiment: NEGATIVE

Tickers: IEPILMN

Keywords: health care industrypharmaceuticalsmarketsbiotech and pharmaceuticalsbiotechnologybusinesscarl icahnstock marketsillumina incbusiness newsicahn enterprises lp

Source: https://www.cnbc.com/2023/03/31/carl-icahn-blasts-illumina-ceo-pay-raise.html


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