Qualcomm late on Friday announced that its board of directors has unanimously approved a plan to promote Steve Mollenkopf to chief executive officer of Qualcomm. Previously, it was reported, Mr. Mellenkopf was considered to be the next chief executive of Microsoft. Instead, he will assume overall responsibility for Qualcomm, including all lines of business and all functional groups in the company.
“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 BoD.
On March 4, 2014, Paul E. Jacobs will assume the role of executive chairman, helping guide development of new technology and Qualcomm’s long-term opportunities.
In his nearly 20 years at Qualcomm, Steve Mollenkopf has held a variety of leadership positions including leading the chipset business (QCT), successfully driving innovation and record growth. Under his leadership, Qualcomm became the world’s largest mobile chipset supplier and the global leader in LTE technology. Under Mollenkopf, QCT also completed the $3.1 billion acquisition of Atheros, the company’s largest acquisition to date, to accelerate the expansion of Qualcomm’s technologies and platforms beyond cellular. 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. Mollenkopf has played a critical role in the development of a number of new technologies, and has strengthened the Company’s relationships with key industry partners. Mollenkopf holds a Bachelor of Science degree in electrical engineering from Virginia Tech and a Master of Science degree in electrical engineering from the University of Michigan. His technology background and business experience make him ideally suited to lead the next phase of the organization’s growth and success.
“I am honored to have been chosen by the board to lead Qualcomm into the next exciting era of the Company. Qualcomm’s focus on execution in product and technology development has helped to establish us as a leader in wireless with our partners. I look forward to working with our executive team and our employees in driving growth for our Company and the entire mobile ecosystem as it transitions to 4G and beyond,” said Steve Mollenkopf.