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Qualcomm Names Rocco Fabiano President of Firethorn

– March 04, 2010 – Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced the appointment of financial services industry veteran Rocco Fabiano to lead the Company’s mobile commerce subsidiary, Firethorn Holdings, LLC. As president of Firethorn, Fabiano will provide strategic direction and lead Firethorn’s expansion into new markets. Fabiano succeeds Firethorn founder Tripp Rackley, who will be transitioning to a new role on Firethorn’s advisory board.

“Rocco has a rare combination of leadership experience in large enterprises, entrepreneurial environments and startup companies that makes him uniquely qualified to lead the Firethorn team,” said Steve Altman, president of Qualcomm. “His expertise will be a tremendous asset as Firethorn builds on the increasing adoption of its mobile banking and m-commerce platforms.”

Fabiano joins Firethorn with more than 25 years experience in the financial services industry, including overseeing a $17 billion private label credit card business and a credit card rewards program. He also served as head of a $12 billion retail bank. Fabiano spent five years as a group executive for Household International, where he oversaw four of the company’s subsidiaries accounting for $35 billion in assets and $650 million in after-tax profits. As an entrepreneur, Fabiano founded four businesses, taking two public and selling two others. He has been an advisor on financial services to many of the nation’s largest private equity firms. In 1997, Fabiano was honored as an Ernst & Young/NASDAQ Entrepreneur of the Year.

Fabiano earned a Master of Business Administration from Cornell University and holds Bachelor and Master of Science degrees from Colorado State University.

About Firethorn
Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), is providing an important link in the emerging mobile commerce ecosystem. As a pioneer in mobile banking, Firethorn is transforming the traditional wallet into a streamlined, efficient and protected mobile revenue channel that will bridge relationships among financial institutions, retailers, wireless operators and consumers. Firethorn’s innovative technology creates easily accessible, branded and personalized mobile commerce channels that give consumers access to their accounts, offers and transactions while on the go. For more information about Firethorn, please visit www.firethornmobile.com.

About Qualcomm
Qualcomm Incorporated (Nasdaq: QCOM) is a leader in developing and delivering innovative digital wireless communications products and services based on CDMA and other advanced technologies. Headquartered in San Diego, Calif., Qualcomm is included in the S&P 100 Index, the S&P 500 Index and is a 2009 FORTUNE 500® company. For more information, please visit Qualcomm around the Web:

www.qualcomm.com
Blog: www.qualcomm.com/blog
Twitter: www.twitter.com/qualcomm
Facebook: www.facebook.com/qualcomm

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Topics: mobile banking
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