Summary by Moomoo AI
Illumina, Inc., a leading company in the biotechnology sector, has announced a significant change in its executive team. On October 3, 2024, the company disclosed the departure of Charles Dadswell, who served as General Counsel and Secretary. Dadswell will transition to an advisory role, supporting the CEO and Board of Directors until March 31, 2025. Scott Davies, previously Vice President, Legal – Chief Corporate Counsel and Assistant Secretary, has been appointed as the Interim General Counsel and Secretary. The company has entered into an Advisory Agreement with Dadswell, ensuring his advisory services until the end of March 2025, for which he will receive his regular compensation and a lump-sum payment of $600,000 upon completion. Additionally, a Separation Agreement outlines further benefits post-termination, including a lump sum equivalent to his annual salary and extended health insurance coverage.