Steve Mollenkopf becomes the new CEO of Qualcomm

He has been with the company for over 20 years

qualcomm-steve-mollenkopfQualcomm today appointed Steve Mollenkopf as its new CEO. Though this development was announced in December last year, Steve was formally appointed as the CEO during the company’s 2014 Annual Meeting of shareholders on March 4. Prior to this responsibility he has served Qualcomm as President and Chief Operating Officer. Qualcomm’s earlier CEO Paul Jacobs became the executive Chairman of the Board. Jacobs will guide the development of new technology and Qualcomm’s long-term opportunities.

As CEO, Mollenkopf will assume overall responsibility for Qualcomm, including all lines of business and all functional groups in the Company.

“Steve and I have worked together for a number of years and I am delighted that he will be Qualcomm’s next CEO,” said Dr. Paul E. Jacobs, executive chairman of Qualcomm. “I’m passionate about new technologies and the possibilities that mobile holds in enabling the ways people live, work and play. I look forward to being able to place my focus on bringing more game-changing technologies to fruition.”

Mollenkopf has been with Qualcomm for more than 20 years in a variety of leadership positions where he has helped to define and implement the Company’s strategy and vision. During this period, he oversaw a number of Qualcomm’s investments in technologies that have propelled smartphones into the mainstream.

“I couldn’t be more honored and energized to lead the Company through these exciting times,” said Steve Mollenkopf, CEO of Qualcomm. “I see numerous opportunities in the coming years for both Qualcomm and the greater industry. Since our founding more than 28 years ago, Qualcomm has been an enabler of the mobile ecosystem and with the support and collaboration of our partners, Qualcomm will continue to push the boundaries of mobile technology.”

During Dr. Jacobs’ tenure as CEO, he guided the Company through extraordinary growth. The Company’s market cap more than doubled, revenues more than quadrupled and GAAP EPS more than tripled. Dr. Jacobs also forged strong collaborations with key global mobile device manufacturers and operators, as well as broadened the mobile ecosystem to key vertical industries. In 2005 when Dr. Jacobs took the title of CEO, Qualcomm was a global Code Division Multiple Access (CDMA)-centric company.

Prior to his role as President and COO, Mollenkopf led the Company’s chipset business, overseeing the launch of 4G technology and making Qualcomm the world’s largest mobile chipset supplier and a global leader in LTE technology. He was credited to introduce the Wideband Code Division Multiple Access (W-CDMA) technology and the launch of 4G/LTE systems.

Besides, Mollenkopf was instrumental in Qualcomm’s $3.1 billion acquisition of Atheros. This was the Company’s largest acquisition to date, helping expand Qualcomm’s technologies and platforms beyond smartphones into new platforms and segments.

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