CHIP DESIGNER Qualcomm has put an end to speculation that its COO Steve Mollenkopf might replace Steve Ballmer at Microsoft by naming him as the company's next CEO.
Just hours after rumours surfaced that Microsoft was "seriously considering" Mollenkopk as its new CEO, Qualcomm announced that he will head the company as its next CEO and president.
Mollenkopf will take over from present Qualcomm CEO Paul Jacobs on 4 March, which will see Jacobs assume the role of executive chairman. Qualcomm's board of directors unanimously approved the transition, saying, "We have the highest degree of confidence that his leadership will further expand Qualcomm's impressive record of innovation and continued stockholder value creation."
Before being named as incoming CEO, Mollenkopf was Qualcomm's chief operating officer and previously headed the firm's chipset business during his 20 year career at the company.
Mollenkopf said in a statement, "I am honored to have been chosen by the board to lead Qualcomm into the next exciting era of the Company. Qualcomm's focus on execution in product and technology development has helped to establish us as a leader in wireless with our partners.
"I look forward to working with our executive team and our employees in driving growth for our Company and the entire mobile ecosystem as it transitions to 4G and beyond."
Jacobs added, "I want to congratulate Steve on his expanded role. I have the utmost confidence in him and in the rest of the management team that they will continue to drive technical and business innovations, ensuring the growth and future of Qualcomm. I very much look forward to continuing to work with Steve."
With Ford's Mulally, Nokia's Elop and now Mollenkopf reportedly out of the running for Microsoft's CEO job, it seems more likely that the company won't select Ballmer's replacement this year. µ
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