The chipmaking giant Qualcomm has kicked off 2021 with a leadership change that entails its six-year running CEO Steve Mollenkopf stepping down this year. Mollenkopf has announced that he’s retiring from Qualcomm effective on the 30th of June, 2020, and will handover the CEO position to Qualcomm’s current President Cristiano Amon.

Mollenkopf is leaving Qualcomm after six years as CEO and 26 years employed with the company and handing over to an incoming CEO that’s spent 25 years at Qualcomm and is the company’s current President.

Mollenkopf began working at Qualcomm in 1994 as an engineer and worked his way up to the CEO position with a tenure that saw Qualcomm strengthen itself as a leader in chipmaking for smartphones. He was also instrumental in diversifying Qualcomm from mobile into newer segments like IoT and Autos.

Under Mollenkopf, Qualcomm notably sparred with Apple in a legal battle that ended in a lucrative settlement of at least $4.5 billion. He also faced an antitrust battle with the US Federal Trade Commission (FTC) that resulted in a win for the commission but was later turned over by a US judge. 

The price of Qualcomm’s shares rose 94% during Mollenkopf’s six-year tenure as CEO. Even as he retires, he’ll continue to serve as a strategic advisor to Qualcomm for an undisclosed period, the company notes.

Photo: Qualcomm CEO Steve Mollenkopf by fortuneglobalforum is licensed under CC BY-NC-ND 2.0

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