Illumina Announces Corporate Reorganization
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Illumina, Inc. has announced that it has reorganized its operating structure to further leverage the synergies between its sequencing and genotyping businesses.
Under the new structure, a newly created Life Sciences Business Unit will include all products and services related to the research market namely the BeadArray, BeadXpress and Sequencing product lines.
The Company has also created a Diagnostics Business Unit to put more focus on the emerging opportunity in molecular diagnostics. The Diagnostics Business Unit will develop diagnostic content for the BeadXpress system, and ultimately for Illumina's Sequencing products.
"Over the last few years we have experienced incredible growth. This new organizational structure provides the foundation to continue scaling our global operations and more effectively leverage our technology assets to capitalize on future opportunities. A specific result will be the acceleration of the integration of our sequencing and genotyping technologies. Additionally, it will enable us to put more focus on developing our diagnostics business," said Jay Flatley, President and Chief Executive Officer of Illumina.
The timing of this reorganization was driven by several management changes. John Stuelpnagel, Senior Vice President, Chief Operating Officer and General Manager, Arrays has decided to move to part-time status as of April 1, 2008.
Dr. Stuelpnagel is expected to have a continuing role with the company working on key projects as an Illumina Fellow. Additionally, he will step down from Illumina's Board of Directors as of that date.
Effective immediately, Christian Henry, Senior Vice President and Chief Financial Officer will take on the role of Acting General Manager of the Sequencing business. In addition to his other duties, Mr. Henry's primary goal will be to effectively manage the integration of the Sequencing business into the new combined Life Sciences Business Unit. The integration is expected to be completed before the end of the second quarter.
The Company has announced that it has hired a Senior Vice President and General Manager, Life Sciences who will be responsible for managing the newly created Life Sciences Business Unit. We expect this individual to fully complete the transition from his current role to Illumina by April 1, 2008.
Illumina has also announced that it has hired a Senior Vice President and General Manager, Diagnostics. Expected to start in early March 2008, this senior executive brings a wealth of diagnostic experience to Illumina. "His leadership will help mold our diagnostic strategy and operations to leverage the key assets of the company," explained Flatley.
"To keep pace with our rapid growth, Illumina's infrastructure has matured significantly over the last several years. Our new organizational structure is a required evolution on the path toward our goal of becoming the global leader in genetic analysis. I look forward to an exciting 2008 for Illumina," continued Flatley.
