Summary
QUALCOMM Incorporated (QCOM) announced the appointment of Dr. Francisco Ros to its Board of Directors on December 6, 2010. Dr. Ros's appointment is effective until the next Annual Meeting of Stockholders. This board enhancement brings new expertise to the company's leadership. Dr. Ros will be compensated according to the company's standard director compensation program, which was previously outlined in the March 2, 2010 Proxy Statement. Notably, the program was recently revised to increase the annual cash retainer for non-U.S. resident directors to $120,000, reflecting the additional travel demands associated with their roles. The specific committee assignments for Dr. Ros are yet to be determined.
Key Highlights
- 1Dr. Francisco Ros appointed to QUALCOMM's Board of Directors.
- 2Appointment effective until the next Annual Meeting of Stockholders.
- 3Dr. Ros's selection is not based on any prior arrangement with other individuals.
- 4Dr. Ros will receive compensation as a non-employee director.
- 5Director compensation program revised to increase annual cash retainer for non-U.S. residents to $120,000.
- 6Committee assignments for Dr. Ros are pending.
- 7Filing is a Form 8-K, indicating a material event.