Qualcomm Names New CEO to Take Over Next March

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Qualcomm is to get a new CEO as its current head Dr. Paul E. Jacobs steps down from the role next March.

With immediate effect, the company's President, Steve Mollenkopf has been named as the company's new Chief Executive Officer-elect, and appointed to its Board of Directors.

The news also kills off the speculation that he would move to Microsoft as his name was being touted as a possible replacement to Steve Ballmer.

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.

"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," said Sherry Lansing, Presiding Director of Qualcomm's Board of Directors and chair of its Governance Committee.

Mollenkopf has been with Qualcomm for nearly 20 years. He 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.

"We want to thank Paul for his leadership and strategic vision in the almost nine years since he was appointed CEO," said Lansing.

In his role as Executive Chairman, Dr. Jacobs will remain an employee of the Company and will help guide its future strategies and direction.

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Steve Mollenkopf

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