Qualcomm names Mollenkopf as next CEO - San Diego, California News Station - KFMB Channel 8 - cbs8.com

Qualcomm names Mollenkopf as next CEO

Posted: Updated:
In this April 18, 2011 file photo, the exterior of Qualcomm offices are shown in Santa Clara, Calif. Qualcomm said Friday, Dec. 13, 2013, that long-time executive Steve Mollenkopf will become its CEO in March. (AP Photo/Paul Sakuma, File) In this April 18, 2011 file photo, the exterior of Qualcomm offices are shown in Santa Clara, Calif. Qualcomm said Friday, Dec. 13, 2013, that long-time executive Steve Mollenkopf will become its CEO in March. (AP Photo/Paul Sakuma, File)

SAN DIEGO (AP) — Qualcomm 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 23 cents to $72.96 in midday trading. Its shares had risen more than 17 percent through Thursday this year.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Midwest Television, Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.