Illumina Appoints Mike Bouchard as Vice President of Finance

Mon Mar 24, 2008 8:05pm EDT
 
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SAN DIEGO--(Business Wire)--
Illumina, Inc. (NASDAQ:ILMN) today announced the appointment of
Mike Bouchard as Vice President of Finance.

   Prior to joining Illumina, Mike served as Vice President of
Finance and Accounting for Websense, a global leader in integrated
Web, messaging, and data protection technologies. At Websense, Mike
was responsible for all financial, accounting, treasury, and tax
matters for the company.

   Before joining Websense, Mike was Director of Finance at Gateway,
where he directed the company's annual, quarterly, and long-term
planning, forecasting, and budgeting processes. Before his time at
Gateway, Mike was the Global Finance Manager for the performance
chemicals group at Rohm & Haas Company, where he was responsible for
all division financial matters. Previously, Mike was Chief Financial
Officer for S.A.L. Limited, a publicly traded company, where he was
responsible for accounting, finance, investor relations, and
information systems.

   Mike earned a B.C. from the University of Ottawa, Ontario, and
received his MBA from the Richard Ivey School of Business. Mike also
qualified as a Chartered Accountant with the Canadian Institute of
Chartered Accountants and began his career at Deloitte & Touche
working on a variety of audits for large corporations in the
manufacturing, banking, investment and captive insurance industries,
as well as retail and wholesale companies.

   In his new position as Illumina's Vice President of Finance, Mike
is responsible for overseeing Illumina's worldwide finance,
accounting, treasury and tax functions.

   "We are excited to have Mike join Illumina during a time when we
are experiencing exponential growth. His finance experience and proven
track record of success will help us support our continued worldwide
expansion," said Christian Henry, Illumina's Senior Vice President and
Chief Financial Officer.

   About Mr. Bouchard's Compensation

   The Company granted an option to purchase 75,000 shares of
Illumina's common stock to Mr. Bouchard as part of his inducement to
join the company. The option was granted by the Company's compensation
committee pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) and
under Illumina's New Hire Stock and Incentive Plan, which was approved
by Illumina's Board of Directors on January 29, 2008. This option has
the following terms: an exercise price equal to the closing fair
market value of Illumina's common stock on the grant date, a ten-year
term and vesting over four years with 25 percent of the option vesting
one year from the grant date and 1/48th of the option vesting monthly
thereafter. The grant date for this option is March 24, 2008.

   About Illumina

   Illumina (www.illumina.com) is a leading developer, manufacturer,
and marketer of next-generation life-science tools and integrated
systems for the large-scale analysis of genetic variation and
biological function. Using our proprietary technologies, we provide a
comprehensive line of products and services that currently serve the
sequencing, genotyping, and gene expression markets, and we expect to
enter the market for molecular diagnostics. Our customers include
leading genomic research centers, pharmaceutical companies, academic
institutions, clinical research organizations, and biotechnology
companies. Our tools provide researchers around the world with the
performance, throughput, cost effectiveness, and flexibility necessary
to perform the billions of genetic tests needed to extract valuable
medical information from advances in genomics and proteomics. We
believe this information will enable researchers to correlate genetic
variation and biological function, which will enhance drug discovery
and clinical research, allow diseases to be detected earlier, and
permit better choices of drugs for individual patients.

   "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: this release may contain forward-looking
statements that involve risks and uncertainties. Among the important
factors that could cause actual results to differ materially from
those in any forward-looking statements are Illumina's ability (i) to
integrate effectively our recent acquisition of Solexa, Inc., (ii) to
develop and commercialize further our BeadArray(TM), VeraCode(R), and
Solexa(R) technologies and to deploy new sequencing, gene expression,
and genotyping products and applications for our technology platforms,
(iii) to manufacture robust microarrays and Oligator(R)
oligonucleotides, (iv) to integrate and scale our VeraCode technology,
together with other factors detailed in our filings with the
Securities and Exchange Commission including our recent filings on
Forms 10-K and 10-Q or in information disclosed in public conference
calls, the date and time of which are released beforehand. We disclaim
any intent or obligation to update these forward-looking statements
beyond the date of this release.

Illumina, Inc.
Media:
Maurissa Bornstein, Public Relations Manager
858-332-4055
mbornstein@illumina.com
or
Investors:
Peter J. Fromen, Sr. Director, Investor Relations
858-202-4507
pfromen@illumina.com

Copyright Business Wire 2008

 

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