SAN DIEGO, Jan. 5, 2021 /PRNewswire/ -- Qualcomm
Incorporated (Nasdaq: QCOM) today announced that its Board of
Directors has unanimously selected Cristiano Amon to succeed Steve Mollenkopf as CEO, effective June 30, 2021. Mollenkopf informed the Board of
his decision to retire as CEO following 26 years with the Company.
Amon, who has worked at Qualcomm since 1995, is currently President
of the Company. Mollenkopf will continue his employment with the
Company as a strategic advisor for a period of time.
Mollenkopf, 52, became CEO in March of 2014. He began his career
as an engineer and, for nearly three decades, has helped define and
lead Qualcomm's strategy and technology roadmap. His work helped
propel smartphones into the mainstream and made Qualcomm a leader
in 3G, 4G and now 5G, and he also oversaw the expansion into new
industry segments such as the Internet of Things (IoT), RF Front
End and Automotive. He was also instrumental in the Company's rise
as a smartphone technology supplier. In addition, Mollenkopf
successfully guided the Company through a number of extraordinary
circumstances and challenges and begins the CEO transition process
with the Company stabilized and well-positioned to continue to grow
and drive value.
"I am immensely proud of all that we have accomplished at
Qualcomm and the position the Company currently enjoys as the
world's leader in wireless technologies," Mollenkopf said. "With
our business model clearly validated and our leadership in 5G, this
is the right time for Cristiano to assume leadership of the Company
and preside over what I see as the single largest opportunity in
the Company's history. Cristiano spearheaded the development of our
5G strategy, including its acceleration, industry-leading
technology roadmap and global rollout. He was also a key architect
and driver of Qualcomm's strategy to expand and diversify our
business beyond mobile and into new industry segments such as Auto,
RF Front-End and IoT. Qualcomm is well positioned for the future
and I am confident that with Cristiano as CEO, the Company will
continue to invent leading technologies and create value for all of
our stakeholders."
"Steve navigated through unprecedented circumstances during his
tenure, facing more in his seven years as CEO than most leaders
face in their entire careers," said Mark
McLaughlin, Chair of Qualcomm's Board of Directors. "Under
Steve's leadership, the Company remained focused and created
immense value for stockholders, inventing key technologies that are
driving economic growth and improving lives. On behalf of the
entire Qualcomm Board, I want to thank Steve for the vision and
leadership he brought during his years as CEO and for leading what
I am confident will be a seamless transition. Cristiano was the
clear choice to be Qualcomm's next CEO, having the track record of
successful execution, deep Company knowledge, very strong
relationships with our ecosystem of partners, and the strategic
vision to take the Company forward. He is an authentic leader who
has played a critical role in the Company's success. We look
forward to working together with him to lead the Company through
its next chapter of growth."
Amon, 50, has served as President, Qualcomm Incorporated since
January 2018. In this role, he is
responsible for Qualcomm's semiconductor business (QCT), which
includes Mobile, RF Front End, Automotive and IoT revenue streams,
and the Company's global operations. Amon has driven the expansion
and diversification of the business across industries and
customers, overseen Qualcomm's 5G strategy, and for almost 15 years
has been steering development of a leading and differentiated
product roadmap. Amon has also overseen the successful execution of
M&A to augment Qualcomm's capabilities and accelerate growth in
key areas, including RF Front End, Connectivity and Networking.
Amon joined Qualcomm in 1995 as an engineer and has held several
business and technical leadership positions throughout his tenure
with the Company. Amon holds a B.S. in Electrical Engineering and
an honorary doctorate from UNICAMP, the State University of
Campinas, Brazil. He also serves
as the co-Chairman of the World Economic Forum IoT Council.
"I am honored to be named the next CEO of Qualcomm and
appreciate the confidence that Steve and the Board have in me,"
said Amon. "Qualcomm is an incredible Company. We have been at
the forefront of innovation for decades and I look forward to
maintaining this position going forward. In addition to driving the
expansion of 5G into mainstream devices and beyond mobile, Qualcomm
is set to play a key role in the digital transformation of numerous
industries as our technologies become essential to connecting
everything to the cloud. The need for our solutions has never been
more pronounced and our leadership position has never been more
evident. I look forward to working with our 41,000 employees around
the world to create technologies that revolutionize the way people
live, work and connect with each other."
About Qualcomm
Qualcomm is the world's leading wireless technology innovator
and the driving force behind the development, launch, and expansion
of 5G. When we connected the phone to the internet, the
mobile revolution was born. Today, our foundational
technologies enable the mobile ecosystem and are found in every 3G,
4G and 5G smartphone. We bring the benefits of mobile to new
industries, including automotive, the internet of things, and
computing, and are leading the way to a world where everything and
everyone can communicate and interact seamlessly.
Qualcomm Incorporated includes our licensing business, QTL, and
the vast majority of our patent portfolio. Qualcomm Technologies,
Inc., a subsidiary of Qualcomm Incorporated, operates, along with
its subsidiaries, substantially all of our engineering, research
and development functions, and substantially all of our products
and services businesses, including our QCT semiconductor
business.
Qualcomm Contacts:
Pete Lancia, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
Mauricio Lopez-Hodoyan, Investor Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated