Cristiano Amon is to take over at Qualcomm in July after Steve Mollenkopf retires as CEO.
Amon, who has worked at Qualcomm since 1995, is currently President of the Company and 5G lead. Mollenkopf will continue as a strategic advisor for a period of time after 26 years at the company.
Mollenkopf, 52, took over in March 2014 from Paul Jacobs, son of founder Irwin Jacobs, after a battle over strategy. In 2016, the company tried to acquire NXP for $47bn and as a result was the target of a hostile $106bn takeover bid by Broadcom that failed. The NXP deal collapsed in 2018 as part of the US-China trade war as Chinese approval for the deal was denied.
“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.
Mollenkopf is credited with the recent stellar growth at the company through a strategy and technology roadmap for 3G, 4G and now 5G, and he also oversaw the expansion into new industry segments such as the Internet of Things (IoT), RF Front End and Automotive.
“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,” said Mollenkopf. “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."