Summary
QUALCOMM Incorporated (QCOM) announced key leadership changes effective November 14, 2011. Steven R. Altman, previously President, has been appointed Vice Chairman of the Company. In this new role, Mr. Altman will focus on providing strategic direction and guidance across all business areas, contributing to the company's overall vision and strategy. Concurrently, Steven M. Mollenkopf has been promoted from his role as President of Qualcomm CDMA Technologies to President and Chief Operating Officer. Mr. Mollenkopf will now be responsible for overseeing the company's divisions, business operations, and market expansion efforts.
Key Highlights
- 1Appointment of Steven R. Altman as Vice Chairman, effective November 14, 2011.
- 2Steven M. Mollenkopf promoted to President and Chief Operating Officer, effective November 14, 2011.
- 3Mr. Altman will focus on company-wide strategy and guidance.
- 4Mr. Mollenkopf will oversee company divisions, operations, and market development.
- 5Both individuals will continue in their existing executive committee roles.
- 6Compensation Committee to review adjustments to executive compensation in November 2011.
- 7No immediate financial impact disclosed; changes are primarily organizational and strategic.