Qualcomm Incorporated , today announced a new corporate structure to focus on growth opportunities following the Company's decision to withdraw its plan to spin off its semiconductor business. Qualcomm's Board of Directors established two business groups, Qualcomm Wireless&Internet Group and Qualcomm CDMA Technologies Group, and approved the following appointments:
- Anthony S. Thornley as chief operating officer. Mr. Thornley will oversee all operational activities for the Company and will retain his responsibilities as chief financial officer.
- Dr. Paul E. Jacobs as group president of Qualcomm Wireless&Internet Group. Dr. Paul Jacobs will oversee Qualcomm Technology Licensing, Qualcomm Internet Services (BREW), Qualcomm Wireless Business Solutions (OmniTRACS), Qualcomm Digital Media (Digital Cinema, Government Systems).
- Donald E. Schrock as group president of Qualcomm CDMA Technologies Group. Mr. Schrock will oversee Qualcomm CDMA Technologies and SnapTrack.
These positions report directly to Qualcomm Chairman and CEO Dr. Irwin Jacobs, along with Executive Vice Presidents Steve Altman (president of Qualcomm Technology Licensing), Dan Sullivan (Human Resources), Roberto Padovani (Corporate R&D) and Franklin Antonio (chief technology officer).
"Since its founding in 1985, Qualcomm has achieved significant growth based on combining technical innovation with rapid product development, marketing and customer support,'' said Dr. Irwin Jacobs, chairman and CEO of Qualcomm. "This corporate realignment provides our businesses with strong leadership in a responsive organization to encourage and accommodate change and support the global expansion of the CDMA market.''
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's Code Division Multiple Access (CDMA) digital technology. The Company's business areas include CDMA integrated circuits and system software; technology licensing; the Binary Runtime Environment for Wireless™ (BREW™) applications platform; Eudora® e-mail software; digital cinema systems; and satellite-based systems including portions of the Globalstar™ system and wireless fleet management systems, OmniTRACS® and OmniExpress™. Qualcomm owns patents that are essential to all of the CDMA wireless telecommunications standards that have been adopted or proposed for adoption by standards-setting bodies worldwide. Qualcomm has licensed its essential CDMA patent portfolio to more than 100 telecommunications equipment manufacturers worldwide. Headquartered in San Diego, Calif., Qualcomm is included in theS&P500 Index and is a 2001 FORTUNE 500® company traded on The Nasdaq Stock Market® under the ticker symbol QCOM.
Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including the Company's ability to successfully design and have manufactured significant quantities of CDMA components on a timely and profitable basis, the ability to design and sell integrated circuits and system software without third party's assessing their patents against the Company or its products, the extent and speed to which CDMA is deployed, change in economic conditions of the various markets the Company serves, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-K for the year ended September 24, 2000, and most recent Form 10-Q.
July 24, 2001
July 24, 2001Qualcomm Announces New Corporate Structure to Focus On Growth OpportunitiesQualcomm Announces New Corporate Structure to Focus On Growth Opportunities