Sue Siegel, chief innovation officer (CIO) at industrial conglomerate General Electric (GE) and chief executive of its corporate venturing unit, GE Ventures, joined genetic technology provider Illumina’s board of directors last week.
Siegel, who ranked second in Global Corporate Venturing 2018 Powerlist, has been CEO of GE’s healthtech scheme, Healthymagination, since 2012, ascending to CEO of GE Ventures in 2013 to help the unit evolve from predecessor GE Capital, before eventually being promoted to CIO at its parent in 2017.
Siegel oversees capital allocation and portfolio management for GE, which funds startups through GE Ventures, focusing on healthcare, software, manufacturing and energy. The news comes at a time when GE is reported to be considering divesting GE Ventures.
Francis deSouza, Illumina’s president and CEO, said: “Sue is an exceptional innovator who brings significant scientific and operational experience to our board of directors.
“We are excited to have her creativity and dedication to reimagining healthcare as Illumina continues its evolution into clinical markets.”
Siegel added: “As a pioneering technology leader, Illumina is advancing many markets, from life sciences research to clinical diagnostics to consumer genomics and beyond, expanding the fast-growing yet early genomics economy.
“Most importantly, Illumina’s commitment to unlocking the power of genome through its breakthrough technologies and business models places it squarely at the forefront of the transformation of human health. I am thrilled to join the board and eager to support its mission.”
Photo courtesy of Sue Siegel.
