SAN DIEGO -- February 14, 2002 -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has approved the appointments of Anthony S. Thornley as president and chief operating officer (COO) and William E. Keitel as senior vice president and chief financial officer (CFO). Mr. Thornley has served as Qualcomm's CFO since joining the Company in 1994. He will retain his current position as chief operating officer in addition to his new responsibilities as president. Mr. Keitel joined the Company in 1996 and has worked in senior management roles within corporate finance, serving as senior vice president and corporate controller since 1998.
"As CFO and COO, Tony has been instrumental in the daily operations of Qualcomm," said Dr. Irwin Mark Jacobs, chairman and CEO, Qualcomm. "He has provided strong leadership and contributed significantly to our business strategy and operational performance over the past several years. His extensive background in finance and knowledge of the Company's business areas will support the global expansion of CDMA and profitable growth for Qualcomm."
Mr. Thornley will continue to report to Dr. Irwin Jacobs as a member of Qualcomm's Office of the Chairman. In addition to Dr. Irwin Jacobs and Mr. Thornley, the Office of the Chairman executive team includes Dr. Paul Jacobs, group president, Qualcomm Wireless&Internet Group; Don Schrock, group president, Qualcomm CDMA Technologies Group; Dr. Roberto Padovani, executive vice president and chief technology officer; Steve Altman, executive vice president and president of Qualcomm Technology Licensing; and Daniel L. Sullivan, executive vice president of human resources. Mr. Keitel will continue to report directly to Mr. Thornley.
"Bill's proven leadership skills, energy and drive have been invaluable to Qualcomm, and he is a significant asset to our executive team," said Mr. Thornley. "Over the past several years, Bill has built a solid finance organization with best practice standards. I look forward to continuing to work closely with Bill as he leads our financial activities in support of our growing worldwide business."
Prior to joining Qualcomm, Mr. Thornley was employed at Nortel Networks for 16 years in various financial and information systems management positions, including vice president finance of public networks, vice president of finance World Trade and corporate controller, Nortel Limited. Mr. Thornley received his bachelor of science in Chemistry from the University of Manchester, England.
Mr. Keitel began his career at PepsiCo in 1980 and served in senior finance roles at Nortel from 1983 until 1996. He holds a master's in business administration from Arizona State University and bachelor's in business administration from the University of Wisconsin.
Qualcomm Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. 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 expand globally and remain profitable, 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 30, 2001, and most recent Form 10-Q.