Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors have elected Don Cruickshank and Dr. Paul E. Jacobs to the Board.
“We are very pleased to welcome Don as a new outside member of Qualcomm's Board of Directors,” said Dr. Irwin Mark Jacobs, chairman and CEO of Qualcomm. “His vast experience, including director general of the United Kingdom's Office of Telecommunications and chairman of the London Stock Exchange plc. ensures that he will be a valuable addition to our board.”
Cruickshank's career has included assignments at McKinsey & Co. Inc., Times Newspapers, Virgin Group plc., Wandsworth Health Authority, National Health Service in Scotland, the United Kingdom's Office of Telecommunications (Oftel) and London Stock Exchange plc. In addition, he served as chairman of Action 2000, the United Kingdom's millennium bug campaign. Cruickshank graduated master of arts from the University of Aberdeen in 1963, became a member of the Institute of Chartered Accountants of Scotland in 1967, and is a graduate of Manchester Business School.
Cruickshank's experience at Oftel enabled him to develop a keen grasp of technology developments, particularly in network and mobile communications. He was instrumental in accelerating competition in the U.K. market, in assisting the U.K. and U.S. governments to open up the North Atlantic international market, and in prompting the European Union Commission to introduce competition across Europe. In 2000, Cruickshank was named chairman of the London Stock Exchange plc. In this role, he was able to successfully transform a members' club to a fully commercial listed company. In this period the Exchange's contribution to the development of an EU single market in financial services was significant. Cruickshank is a member of the Financial Reporting Council for the U.K. The Council has the responsibility for oversight of the accounting and actuarial professions in the U.K. as well as the Combined Code, the U.K. equivalent of Sarbanes Oxley.
Concurrently with the election of Mr. Cruickshank, the Board of Directors also elected Dr. Paul Jacobs to the Board in accordance with his previously announced appointment as CEO-elect. Dr. Jacobs has been the primary driver of Qualcomm's focus on enabling wireless data. He has held numerous engineering and management positions since joining the Company fulltime in 1990. Dr. Jacobs developed many of the technical concepts and business strategy for the BREW® and MediaFLO™ systems. He was an early proponent of embedding TCP/IP in CDMA phones and worked with operators and industry partners to develop technology which allowed CDMA devices to directly connect to the Internet. Dr. Jacobs holds a Ph.D. in electrical engineering from the University of California at Berkeley.
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 the S&P 500 Index and is a 2005 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 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 26, 2004, and most recent Form 10-Q.