Qualcomm Names Steve Mollenkopf CEO and President

Qualcomm named Steve Mollenkopf as its next CEO, succeeding Dr. Paul E. Jacobs, who remains Executive Chairman of the Board. Mollenkopf will continue to serve as the company's President, and will take over full CEO responsibilities effective March 4, 2014, following Qualcomm's 2014 Annual Meeting of Stockholders.

Mollenkopf has been at Qualcomm for nearly 20 years, serving in a variety of leadership positions including leading the chipset business (QCT). Under Mollenkopf, Qualcomm became the world's largest mobile chipset supplier, the global leader in LTE, and also completed the $3.1 billion acquisition of Atheros, its largest acquisition to date. Most recently, he served as Qualcomm's president and chief operating officer and as a member of the executive committee, helping to drive Qualcomm's overall global strategy.

"Qualcomm's board of directors is responsible for ensuring the continuity of the Company's senior leadership and that the executive team possesses the experience, skills and character required to achieve the Company's goals. With today's announcement, we enable a smooth transition to a proven executive in Steve Mollenkopf, while providing for ongoing executive guidance and Board-level leadership from Paul Jacobs. Qualcomm's Board of Directors unanimously approved the appointment of Steve Mollenkopf to the board of directors and his transition to CEO.  We have the highest degree of confidence that his leadership will further expand Qualcomm's impressive record of innovation and continued stockholder value creation," said Sherry Lansing, Presiding Director of Qualcomm's Board of Directors and chair of its Governance Committee.

http://www.qualcomm.com