Tech stocks: Qualcomm taps Mollenkopf as CEO
Tech stocks: Qualcomm taps Mollenkopf as CEO
Consumers visit the Qualcomm booth during the 2013 International CES in Las Vegas.(Photo: Joe Klamar, AFP/Getty Images)
Shares of chip maker Qualcomm are up slightly in Friday trading after the company named Steve Mollenkopf as its next CEO.
The 20-year veteran of Qualcomm will take over the role officially in March. Most recently, he served as the company's president and chief operating officer.
Current CEO Paul Jacobs will stay on as executive chairman.
Qualcomm stock is up 0.4% to $73.01 in pre-market trading.
The announcement comes hours after a Bloomberg report[1] claiming Microsoft was considering Mollenkopf for the top job in Redmond, Wash. In August, Microsoft CEO Steve Ballmer announced he would retire within 12 months.
Rumored successors have included Nokia CEO Stephen Elop, Ford chief Alan Mulally and Microsoft executive Satya Nadella.
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References
- ^ http://www.bloomberg.com/news/2013-12-12/microsoft-said-to-consider-qualcomm-s-mollenkopf-for-ceo-job.html (www.bloomberg.com)
- ^ http://twitter.com/bam923 (twitter.com)