SAN DIEGO - Qualcomm (QCOM) says that long-time executive Steve Mollenkopf will become its CEO in March.
Mollenkopf, who has served as
president and chief operating officer since October 2011, was named as CEO
elect and will join the mobile device chipmaker's board. He will continue to
serve as Qualcomm's president and officially become CEO on March 4 after the
company's annual meeting.
At that time, current CEO Paul Jacobs
will become executive chairman and help guide development of new technology.
Mollenkopf has held a variety of jobs
during his nearly 20 years at the company, including leading its chipset
business where he helped Qualcomm become the world's largest mobile chipset
supplier and a leader in higher speed mobile Internet technology.
Qualcomm Inc. shares rose 52 cents to
$73.25 in premarket trading. Its shares
have risen more than 17 percent so far this year.