SAN DIEGO -- May 9, 2002 -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that Neil Kadisha has tendered his resignation as a member of the Company's Board of Directors to concentrate on his OMNINET Capital portfolio companies and other financial interests. Mr. Kadisha joined the Company as a Director in 1988. Qualcomm has no present plans to fill the vacancy.
"I have complete confidence in Qualcomm's future growth prospects and will retain a substantial interest in Qualcomm," said Neil Kadisha. "I am very proud and grateful to have had the opportunity to be part of building such a great company."
"We appreciate the many years of valuable service that Neil has provided to Qualcomm and we wish him well in his current and future endeavors," said Dr. Irwin M. Jacobs, chairman and CEO of Qualcomm. "I personally have enjoyed a close working relationship with Neil dating back to the early days of OmniTRACS."
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 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 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 30, 2001, and most recent Form 10-Q.
Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.