Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has unanimously selected Cristiano Amon to succeed Steve Mollenkopf as CEO, effective June 30, 2021. Mollenkopf informed the Board of his decision to retire as CEO following 26 years with the Company. Amon, who has worked at Qualcomm since 1995, is currently President of the Company. Mollenkopf will continue his employment with the Company as a strategic advisor for a period of time.
Who is Cristiano Amon ?
Cristiano Amon serves as president of Qualcomm Incorporated and is a member of the Qualcomm’s executive committee. He is responsible for Qualcomm’s semiconductor business (QCT), which includes Mobile Handsets, RF Front End, Automotive and IoT, and the Company’s global operations.
Amon joined Qualcomm in 1995 as an engineer.
Who is Steve Mollenkopf ?
Steve Mollenkopf is chief executive officer of Qualcomm Incorporated, and serves on the company’s board of directors. Mollenkopf began his Qualcomm career as an engineer and, for more than 25 years, has helped define and implement the company’s strategy and technologies.
Since becoming CEO in 2014, Mollenkopf cemented Qualcomm’s position as the world’s leader in wireless technologies.
Previously, Mollenkopf served as Qualcomm’s president and chief operating officer. Prior to his role as president and COO, Mollenkopf led QCT– the company’s chipset business – overseeing the launch of 4G technology and the company’s rise as a smartphone technology supplier.
Why is Cristiano Amon selected as the new CEO ?
After a long 26 years of service with Qualcomm, Steve Mollenkopf called for retirement and Cristiano Amon was unanimously selected as the new CEO.
How did Steve react on Cristiano Amon’s news of being the new CEO ?
“I am immensely proud of all that we have accomplished at Qualcomm and the position the Company currently enjoys as the world’s leader in wireless technologies,” Mollenkopf said.
“With our business model clearly validated and our leadership in 5G, this is the right time for Cristiano to assume leadership of the Company and preside over what I see as the single largest opportunity in the Company’s history. Cristiano spearheaded the development of our 5G strategy, including its acceleration, industry-leading technology roadmap and global rollout. He was also a key architect and driver of Qualcomm’s strategy to expand and diversify our business beyond mobile and into new industry segments such as Auto, RF Front-End and IoT. Qualcomm is well positioned for the future and I am confident that with Cristiano as CEO, the Company will continue to invent leading technologies and create value for all of our stakeholders.”
How did the Board of Directors react ?
“Steve navigated through unprecedented circumstances during his tenure, facing more in his seven years as CEO than most leaders face in their entire careers,” said Mark McLaughlin, Chair of Qualcomm’s Board of Directors. “Under Steve’s leadership, the Company remained focused and created immense value for stockholders, inventing key technologies that are driving economic growth and improving lives. On behalf of the entire Qualcomm Board, I want to thank Steve for the vision and leadership he brought during his years as CEO and for leading what I am confident will be a seamless transition. Cristiano was the clear choice to be Qualcomm’s next CEO, having the track record of successful execution, deep Company knowledge, very strong relationships with our ecosystem of partners, and the strategic vision to take the Company forward. He is an authentic leader who has played a critical role in the Company’s success. We look forward to working together with him to lead the Company through its next chapter of growth.”
Cristiano Amon on being named as the CEO
“I am honored to be named the next CEO of Qualcomm and appreciate the confidence that Steve and the Board have in me,” said Amon.
“Qualcomm is an incredible Company. We have been at the forefront of innovation for decades and I look forward to maintaining this position going forward. In addition to driving the expansion of 5G into mainstream devices and beyond mobile, Qualcomm is set to play a key role in the digital transformation of numerous industries as our technologies become essential to connecting everything to the cloud. The need for our solutions has never been more pronounced and our leadership position has never been more evident. I look forward to working with our 41,000 employees around the world to create technologies that revolutionize the way people live, work and connect with each other.” he added.
Let us see how the real man behind the 5G processor takes the company’s leadership. It will be great to witness this.