Qualcomm Molrankov CEO Retires After 7 Years... New CEO Amon from Brazil

Serving as a Company Advisor After Retirement

Steven Mollenkopf, CEO of Qualcomm (Photo by Qualcomm website)

[Asia Economy Reporter Jeong Hyunjin] Steve Mollenkopf, CEO of Qualcomm, the world's largest communication chip manufacturer, is retiring after 7 years. His successor has been appointed as Cristiano Amon, the current 'Number 2' from Brazil.

On the 5th (local time), according to the Wall Street Journal (WSJ) and others, Qualcomm announced that Mollenkopf will step down as CEO in June and will serve as an advisor to the company for a certain period thereafter.

Since leading Qualcomm in 2014, CEO Mollenkopf is known for successfully navigating through a series of major crises. He ended the dispute with Apple over patent issues in 2019 by receiving a $45 billion settlement and equipping the iPhone 12 with Qualcomm's 5G chips. Although the U.S. Federal Trade Commission (FTC) filed an antitrust lawsuit, the appeals court ruled that there was "no violation." In 2018, Broadcom, an industry rival, attempted a hostile takeover of Qualcomm, but the Trump administration blocked it citing national security concerns.

Mark McLaughlin, Chairman of Qualcomm's Board, praised, "Steve has gone through more challenges in 7 years than most leaders face in a lifetime and has navigated unprecedented circumstances well."

Cristiano Amon, who succeeded Mollenkopf as CEO, has spent most of his career at Qualcomm leading the semiconductor manufacturing business. Promoted to Qualcomm's president in 2018, he was at the forefront of Qualcomm's various efforts such as the transition to 5G, the business deal with Apple, expanding market share in China's mobile phone market, and shifting to new fields like chips for autonomous vehicles, WSJ explained. In a statement, Amon said, "Qualcomm will not only lead the expansion of 5G into mainstream devices, but our technology will play a key role in the digital transformation of many industries as it becomes essential for connecting everything to the cloud."

Qualcomm recorded results that exceeded Wall Street expectations, with its stock price rising 73% last year alone. This year, it plans to ship 500 million 5G chips.

This content was produced with the assistance of AI translation services.