Qualcomm Incorporated, a leading developer and innovator of advanced wireless technologies and data solutions, today announced the election of Stephen M. Bennett to its Board of Directors. Bennett brings more than 30 years of financial and business expertise, including serving as CEO of Intuit, Inc. and holding several key executive positions at General Electric Company.
"We are pleased to welcome Steve Bennett as a member of Qualcomm's Board of Directors," said Dr. Irwin Mark Jacobs, chairman of Qualcomm. "His proven leadership, operational expertise and background in financial services should prove highly valuable to both board and management and is especially significant given Qualcomm's entrance into the emerging mCommerce global marketplace and the evolution of mobile banking."
Under Bennett's leadership as CEO of Intuit, the company's business grew from $900 million to $2.6 billion in revenue and the company's earnings more than quadrupled. Bennett joined Intuit from GE Capital, the financial services subsidiary of General Electric Corp. During his 23-year tenure at GE, Bennett held senior positions in several different divisions of the company. He most recently served as executive vice president and a member of the board of directors of GE Capital, where he oversaw a portfolio of five different companies with more than 20,000 employees. As president and CEO of GE Capital e-Business, he led the company's efforts to leverage the Internet across GE Capital's worldwide portfolio of businesses. Prior to that, as CEO of GE Capital's Vendor Financial Services business, he helped assets grow to more than $13 billion in four years. Bennett currently serves on the board of directors of Intuit, Inc. and Sun Microsystems, Inc. He holds a bachelor of arts in finance and real estate 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 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 2008 FORTUNE 500(R) company traded on The Nasdaq Stock Market(R) under the ticker symbol QCOM.