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™,
VeraCode®, and Solexa®
technologies and to deploy new sequencing, gene expression, and
genotyping products and applications for our technology platforms, (iii)
to manufacture robust microarrays and Oligator®
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.
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