Qualcomm co-founder to retire from board in 2012 - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Qualcomm co-founder to retire from board in 2012

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SAN DIEGO (AP) - Qualcomm co-founder Irwin Mark Jacobs is leaving the chip-maker's board of directors next year.

In a statement Tuesday, Jacobs said he is leaving "knowing that Qualcomm's strong management team and technical roadmap will ensure the company's continuing success."

The company did not give a reason for his retirement from the board.

His son, Paul, will remain chairman and CEO of Qualcomm Inc.

Irwin Jacobs co-founded the company in 1985 and served as CEO until its 20th anniversary in June 2005. He was chairman until 2009.

Qualcomm is best known for developing a wireless standard called code division multiple access, or CDMA. Qualcomm commercialized that technology under Jacobs' leadership and gets a large part of its revenue from licensing it to other companies for use in phones and other products.

 

Copyright 2011 The Associated Press.

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