After upending Illumina’s leadership, activist investor Carl Icahn appears to be backing off.
According to a proxy filing Thursday, Icahn’s director on Illumina’s board won’t stand for re-election, and Icahn hasn’t nominated a new ally to replace him, or others.
While there’s no indication that Icahn has sold the stake he bought in the genetic sequencing company, giving up the director seat — occupied by Andrew Teno, now the CEO of Icahn Enterprises — marks a notable retreat after a protracted and often vicious proxy battle that last year led to the
exit of Illumina’s CEO
.