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Qualcomm CEO to step down in summer after 26 years at the company
05.01.2021 [21:34],
Vladimir Mironenko

Qualcomm announced Tuesday the upcoming resignation of CEO Steve Mollenkopf (pictured below). It is also reported that he will leave office on June 30, and will be replaced by the current president of the company, Cristiano Amon.

Steve Mollenkopf, Reuters

Mollenkopf, 52, with Qualcomm for 26 years. Qualcomm shares are up 96.7% since 2021, when he became CEO (up 71.7% last year).

Under his leadership, the company overcame a host of challenges, including a legal battle with Apple and an attempted hostile takeover by rival Broadcom. As a reminder, Qualcomm took a decisive victory in its battle with the Federal Trade Commission (FTC) last August when the US Federal Court of Appeals ruled that Qualcomm’s business practices were not anti-competitive.

The company said Mollenkopf’s CEO role helped bring smartphones to the mainstream, adding that he oversaw Qualcomm’s expansion into new industry segments such as the Internet of Things, RF Front End solutions and automotive.

Christiano Amon wsj.com

“Steve went through unprecedented circumstances during his tenure, facing more challenging situations in his seven years as CEO than most leaders in their entire careers,” Qualcomm chairman Mark McLaughlin said in a statement. McLaughlin). Qualcomm says Mollenkopf will remain strategic advisor to the company indefinitely.

In turn, 50-year-old Amon headed the division for the production of mobile chips and has been the president of the company since 20221.

Recall that in November of last year, Qualcomm said it plans to ship 500 million mobile chips with 5G support in 2021.