Jay Flatley

Illumina CEO Jay Flatley has been elected chairman of the firm's board of directors following the resignation of William Rastetter, who served as chairman for the past 11 years. Rastetter resigned the post so he could invest in and serve as an Illumina representative on the board of directors of Grail, a majority-owned subsidiary of Illumina launched last month. Illumina said that its board intends to appoint a lead independent director.