Bianchi to Join Illumina Executive Team to Execute World-Class Human Capital Strategy
SAN DIEGO--(BUSINESS WIRE)--Sep. 10, 2012-- Illumina, Inc. (NASDAQ:ILMN) today announced it has appointed Paul Bianchi as Senior Vice President of Human Resources. In this executive management position, Bianchi will oversee Illumina's global HR strategy and programs including talent and leadership development, employee engagement and communications, and rewards and recognition. Based in the San Francisco Bay Area, he will also assume responsibility for site management of Illumina's Hayward office.
"Paul has an impressive track record of driving organizational and human capital development at some of the world's leading technology companies," said Jay Flatley, President and Chief Executive Officer of Illumina. "We are excited to welcome him to our growing organization, and value the expertise he brings in developing teams, building management and leadership capacity, and supporting rapid growth and change."
Bianchi is a human capital executive with over 20 years of leadership experience with innovative companies. He joins Illumina from Risk Management Solutions, where he served as SVP of Human Resources for a growing, global leader of catastrophe risk software. Previously, Bianchi was a Principal at Strayer Consulting services where he delivered organizational development services to a wide variety of clients from small start-ups to multi-billion dollar companies. Prior to this, he served as global leader of human resources for PeopleSoft, Hands-On Mobile, Ask Jeeves, ProBusiness Services, and NeXT Computer, as well as in a key management position with Apple. His expertise also includes leading due diligence and integration efforts for over a dozen acquisitions ranging from $50M to $1.5B. Bianchi has a Master's in Management from the University of Kent, Canterbury (UK) and a Bachelor of Science in Managerial Economics, with a Minor in Rhetoric, from the University of California, Davis. He has been certified as a Senior Professional in HR, has taught at San Jose State University, and has spoken on a variety of topics at software and human resources forums.
About Bianchi's Compensation
Illumina granted an award of 46,875 performance share units (PSUs) and 10,417 restricted stock units (RSUs) to Bianchi as part of his inducement to join the company. The PSUs and RSUs were approved by Illumina's compensation committee pursuant to NASDAQ Marketplace Rule 5635(c)(4) and were granted under Illumina's New Hire Stock and Incentive Plan, which was approved by Illumina's Board of Directors on January 29, 2008. The PSUs will vest at the end of a 3-year measurement period (commencing January 2, 2012 and ending December 28, 2014) based on achievement of specified earnings per share (EPS) targets for the fiscal year ending December 28, 2014. The number of shares issuable at the end of the three year performance period will range from 50% to 150% of the number of shares specified in the PSU award, based on actual performance relative to the specified EPS targets. The RSUs will vest over four years with 25 percent of the RSUs vesting on each of the first four anniversaries of the grant date. The grant date for the PSUs and RSUs to Bianchi is September 5, 2012.
About Illumina
Illumina (http://www.illumina.com) is a leading developer, manufacturer, and marketer of life science tools and integrated systems for the analysis of genetic variation and function. We provide innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA, and protein. We also provide tools and services that are fueling advances in consumer genomics and diagnostics. Our technology and products accelerate genetic analysis research and its application, paving the way for molecular medicine and ultimately transforming healthcare.
Source: Illumina, Inc.
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