Following Mollenkopf approval by the Qualcomm board on Friday, director Sherry Lansing issued this statement:
“With today’s announcement, we enable a smooth transition to a proven executive in Steve Mollenkopf, while providing for ongoing executive guidance and Board-level leadership from Paul Jacobs. Qualcomm’s Board of Directors unanimously approved the appointment of Steve Mollenkopf to the board of directors and his transition to CEO. We have the highest degree of confidence that his leadership will further expand Qualcomm’s impressive record of innovation and continued stockholder value creation.”
Mollenkopf will replace Jacobs as chief executive in March 2014. Jacobs will stick around as executive chair of the board.