QUALCOMM, Inc. (NASDAQ:QCOM) has selected a new chief executive officer. The company chose Steve Mollenkopf, who currently is the company's chief operating officer. Current CEO Paul Jacobs will be leaving the CEO post at Qualcomm on March 4.
Qualcomm's new CEO
Mollenkopf officially became Qualcomm's CEO-elect, and he will join the company's board effective immediately. However, he won't fully take over the reins until March 4. The board unanimously approved his appointment to the CEO-elect position, saying that it provides "a smooth transition to a proven executive."
QUALCOMM, Inc. (NASDAQ:QCOM) said in its announcement that Jacobs will remain on as executive chairman for its board of directors. The company also said he would be helping guide new technology development and long-term opportunities.
Mollenkopf no longer in the running as Microsoft's CEO
The announcement today from Qualcomm comes right after Bloomberg News reported that Mollenkopf was in the running to become Microsoft Corporation (NASDAQ:MSFT)'s next CEO. Darrell Etherington of TechCrunch speculates that perhaps that tidbit was leaked on Thursday to push Qualcomm into officially signing Mollenkopf as its next CEO.
Mollenkopf has become very well-known in the technology industry for his efforts in pushing QUALCOMM, Inc. (NASDAQ:QCOM) more firmly into the mobile segment of the industry. This is one area in which Microsoft has been struggling, so Mollenkopf could have been a good addition. However, Qualcomm clearly wants to keep him since he has provided so much guidance in this segment of the market. He has spent the last two decades of his career at the chip maker.
Who will be Microsoft's next CEO?
Now that Mollenkopf has officially been named to the top spot at QUALCOMM, Inc. (NASDAQ:QCOM), Microsoft Corporation (NASDAQ:MSFT)'s short list of who might replace CEO Steve Ballmer as CEO is growing quite short, particularly if Ford Motor Company (NYSE:F) CEO Alan Mulally is off that list as well.