Source: Following the Cause and Capturing the Medicine
After Francis resigned, Charles Dadswell has been serving as the interim CEO, and this interim period has lasted for 3 months.It is unclear how well Charles Dadswell is performing as the interim CEO, but remaining in a temporary position for too long is not ideal.Fortunately, the board of directors also knows that this position absolutely cannot be left vacant for too long at this stage.September 5, 2023Illumina Announces Board Appointment of Dr. Jacob Thaysen as New CEO！I believe all of you, like me, are very curious about the new CEO.So, let's use a few keywords to sort things out together.Dr. Jacob Thaysen graduated from DTU (Technical University of Denmark), where he studied applied physics during his master's degree and nanotechnology during his Ph.D.Dr. Thaysen, who graduated in 2001Currently 48 years old, this number is similar to the age we speculated.As a CEO managing a company with a market value of tens of billions of US dollars, this age is still very young.。This means that he has plenty of time to make adjustments to the company.We found that Thaysen has a long-term passion for his work.Even if just graduated, the company I joined alsoStayed for nearly 5 years。There was a year in between that could be considered a gap year. I did some consulting in Copenhagen, and then joined Dako.At Dako, he started as an executive management assistant (commonly referred to as "chief assistant") and eventually worked his way up to become the company's vice president of research and development.A total of 5 years。In May 2012, our old friend Agilent announced the acquisition of Dako for $2.2 billion, after which Dr. Thaysen joined Agilent.Dako was integrated into Agilent's DGG (Diagnostics and Genomics Group), and he subsequently became the General Manager of DGG and Vice President of the company.This wait is10 Years, his position has also been upgraded from Vice President of the company to Senior Vice President of Agilent, and President of the LSAG (Life Science & Applied Markets Group) business group.From this, we can see that Dr. Thaysen is a very sentimental person.Do you remember the first job of Dr. Thaysen we mentioned before?That company is called CANTION A/S, a company specializing in trace substance detection equipment, which was later acquired by Nanonord.Dr. Thaysen has approximately 16 patent applications (possibly with duplicates) that can be found in this company.This shows that,Dr. Thaysen still has a relatively strong technical level.。At the very least, having a relatively in-depth understanding of the development of testing products.As for the other hidden attribute, it's just my personal guess. Take it as gossip.From Dako being acquired by Agilent to leaving on September 5, 2023, it has been a full 10 years.Can inThose who remain steadfast and even get promoted after an acquisition are no ordinary people.。Translated roughly, it isAt least one of EQ or IQ is very excellent, or even both are excellent.Illumina's current interim CEO Charles Dadswell will step down and return to his original position as Senior Vice President and General Counsel.Thaysen's successor in Agilent LSAG is his former "junior brother" Philip Binns.Philip Binns joined Agilent in 2010 and has been there for 13 years.Previously, he was the general manager of the Spectroscopy and Vacuum divisions within the LSAG business group, a position that Jacob Thaysen essentially vacated for him.PS: Agilent Technologies seems to be a great company, as people can stay there for such a long time.The above are mostly positive aspects. In the following section, let's discuss some potential concerns that Illumina's shareholders might have.Note that what is being discussed here is a possibility, not a certainty. It merely represents our logical speculation and has neither investment reference value nor any necessity for reference.The first concern, professional knowledge gap.Although the press release emphasized Dr. Jacob Thaysen's experience in the clinical field, particularly in oncology, as well as his experience with Agilent's DGG division, Jacob's foundation was built at Dako.Dako itself is a company specializing in pathology products, which differs significantly from genetic testing. After Agilent acquired Dako, it integrated Dako into the DGG division.From this, it can be inferred that Jacob Thaysen's understanding of genetic testing products may not be as profound as his knowledge of pathology products.Moreover, in 2018, Jacob became the head of the LSAG division, which is even further away from genetic testing.Therefore, we summarize the first concern: Jacob’s background is not in the field of genetic testing, and his recent experience also has little to do with genetic testing.The second concern is that LSAG, under the leadership, has recently underperformed.We showed this chart during the analysis of Agilent's Q3 2023 earnings, let me recap it for everyone.It can be seen that revenue has declined both quarter-over-quarter and year-over-year.This may lead investors to have some doubts about Jacob's capabilities. Of course, to be fair, LSAG's gross margin is much better than DGG's.Overall, what kind of leader Jacob is for Illumina, everyone probably has their own answer.Actually, I hope that the Region head of a certain major country can be promoted, although it may put great pressure on domestic brands.However, this is obviously impossible.The next six months or so will be a window period to observe Jacob's performance.Follow us, become a shareholder, and observe with us in secret.Moreover, do you all think that the issue with the new CEO caused the decline in Illumina's stock price?Never think like that, the PacBio next door has also dropped, and not by a small amount.
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