Wireless technology company Qualcomm Incorporated (NASDAQ: QCOM) has announced that its Board of Directors has unanimously approved a succession plan for executive management of the company.
Effective Dec. 12, Steve Mollenkopf was promoted to chief executive officer (CEO)-elect of Qualcomm, and appointed to its Board of Directors. He will continue to serve as the company’s president.
Effective March 4, 2014, following the company’s 2014 Annual Meeting of Stockholders, Mollenkopf will become CEO. In this role, he will assume overall responsibility for Qualcomm, including all lines of business and all functional groups in the company.
On March 4, 2014, Dr. 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 (pictured above) has held a variety of leadership positions including leading the chipset business.
“I am honored to have been chosen by the board to lead Qualcomm into the next exciting era of the company,” said Steve Mollenkopf.
In his role as executive chairman, Dr. Jacobs will remain an employee of the company and will help guide its future strategies and direction.
Qualcomm is a leading company for 3G, 4G and next-generation wireless technologies.
Photo courtesy: Qualcomm