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Why Illumina Stock Is Sinking Today

TheMotleyFool

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Shares of Illumina (NASDAQ: ILMN) were sinking 9.5% at 11:33 a.m. ET on Friday. The decline came after the company announced the departure of CFO Sam Samad in a press release issued after market close on Thursday.

When a top executive -- especially the CEO or CFO -- unexpectedly leaves a company, it typically raises questions about the reason for the departure. Sometimes, the answers to those questions are legitimate causes for concern.

Illumina's press release didn't provide details about why Samad is stepping down as CFO. However, Quest Diagnostics revealed on Thursday that Samad will become its new CFO.

Source Fool.com

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