Qualcomm Incorporated (Nasdaq: QCOM), a leading developer and innovator of advanced wireless technologies, products and services, today announced that Dr. Paul E. Jacobs has been elected chairman of Qualcomm's board of directors. Dr. Irwin Mark Jacobs, co-founder and CEO from the founding of Qualcomm in 1985 through 2005, has decided to step down from his position as chairman but to continue to serve as a member of the board of directors. The transition is effective immediately.
The transition builds on Dr. Paul E. Jacobs' extensive track record of achievements and strategic guidance that have helped grow Qualcomm into one of the leading wireless communications companies in the world. During his tenure at Qualcomm, Dr. Paul E. Jacobs has held numerous engineering and leadership positions, culminating in his appointment to CEO in 2005. He has been the primary driver of Qualcomm's focus on enabling wireless data services, which make the cellular phone not only a tool for voice communications, but also the most personal device for entertainment, computing and information access. Qualcomm's continuous focus on innovation is leading this transformation and helping develop new markets, new segments and new business models.
“I am honored to have been entrusted with this new opportunity to serve as chairman of Qualcomm's board of directors,” said Dr. Paul E. Jacobs. “I would like to thank Irwin for his invaluable service to this Company. Under his leadership, Qualcomm achieved strong growth in shareholder value and is positioned for continued leadership in a rapidly expanding industry. I look forward to working with Irwin in his new role, where he will continue to help guide the Company's future strategies and direction.”
Qualcomm Incorporated (Nasdaq: QCOM) 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® company. For more information, please visit www.qualcomm.com.
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 28, 2008, and most recent Form 10-Q.