Barely a day after the Bloomberg report that claimed Steve Mollenkopf as one of the CEO candidates for Microsoft, Qualcomm has confirmed that Mollenkopf who holds the COO position, will be the next Qualcomm CEO. Qualcomm Board of Directors unanimously approved a succession plan for executive management with Mollenkopf being promoted as the Chief Executive Officer-elect from today and will assume the Chief Executive Officer position from March 4, 2014 following Qualcomm’s AGM.
He’ll assume overall responsibility of the company while the current CEO, Dr. Paul E. Jacobs will assume the role of Executive Chairman from March 4, 2014. Jacobs will be responsible to guide “development of new technology and Qualcomm’s long-term opportunities.”
Steve Mollenkopf has spent nearly 20 years at Qualcomm and is responsible for successfully completing the $3.1 billion acquisition of Atheros and forging Qualcomm’s relationships with key industry partners.