Qualcomm names Steve Mollenkopf as CEO; Jacobs to be Chairman
New Delhi: Chipmaker Qualcomm on Friday said its Chief Operating Officer Steve Mollenkopf will take over as the CEO, replacing Paul Jacobs.
Mollenkopf will become CEO on March 4, after Qualcomm's annual shareholder meeting. He was promoted as CEO-elect yesterday and appointed to its Board of Directors.
He will continue to serve as the company's President.
Paul Jacobs, who has been the CEO since 2005 after taking over from his father and Qualcomm co-founder Irwin, will assume the role of Executive Chairman.
He will focusssing on helping guide development of new technology and Qualcomm's long-term opportunities, Qualcomm said in a statement.
"In this role, Mollenkopf will assume overall responsibility for Qualcomm, including all lines of business and all functional groups in the company," it added.
Under Mollenkopf, Qualcomm completed the USD 3.1 billion acquisition of Atheros, its largest acquisition to date, to accelerate the expansion of the company's technologies and platforms.