Illumina, a leading gene sequencing company, has announced the departure of Chief Financial Officer Joydeep Goswami. Stepping into Goswami’s shoes is Ankur Dhingra, the former executive of Summit Therapeutics (NASDAQ: SMMT). Goswami will continue to support the company in an advisory capacity until June 30.
Goswami, who brought over two decades of experience in the life sciences industry, had served as CFO since early 2023. Prior to his role at Summit, Dhingra served as CFO at medical test maker CareDx (NASDAQ: CDNA) and accumulated 18 years of experience at equipment maker Agilent Technologies (NYSE: A).
In February, the company projected annual core business revenue to remain nearly flat, reflecting subdued demand for genetic testing tools and diagnostics products extending into the current year. In December, Illumina announced plans to divest cancer diagnostic test maker Grail following a prolonged battle with U.S. and European antitrust enforcers, as well as opposition from activist investor Carl Icahn.
Despite the leadership transition, Illumina (NASDAQ: ILMN) reaffirmed its forecast for the first quarter and full-year 2024. This strategic decision reflects Illumina’s ongoing commitment to navigating regulatory challenges and optimizing its business portfolio for sustained growth.
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