Qualcomm appoints Steve Mollenkopf as CEO

16 December 2013 |

Qualcomm has named COO Steve Mollenkopf as its new CEO.

The appointment ends speculation linking Mollenkopf with a move to Microsoft, where he was thought to be in the running to replace former CEO Steve Ballmer.

Dr Paul Jacobs, who is the son of founder and former CEO Irwin Jacobs, stepped down as Qualcomm CEO last week to assume the role of executive chairman.

“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 board of directors and chair of its governance committee.

Mollenkopf has been with Qualcomm for nearly 20 years, holding a variety of positions including leading the chipset business (QCT). Under his leadership the company has become one of the world’s largest mobile chipset suppliers and a leader in LTE technology.

He also oversaw the $3.1 billion acquisition of Atheros in 2011, the company’s largest takeover to date.

Mollenkopf will assume his new role on March 4 2014.