Qualcomm CEO Steve Mollenkopf is retiring after 26 years at the chip-making giant
- Steve Mollenkopf is retiring as CEO of Qualcomm, and will be replaced by current President Cristiano Amon.
- Mollenkopf has worked for the chip-making giant for 26 years, and became CEO in 2014.
- "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.
After working at chip-maker Qualcomm for 26 years, Steve Mollenkopf plans to retire as CEO.
Mollenkopf will be replaced by Cristiano Amon, the company president, who was "unanimously" chosen by the board of directors, Qualcomm announced on Tuesday.
Amon, who has worked for the chip-making giant since 1995, will start the new role on June 30. He has been the company's president since January 2018, and headed up its 5G strategy.
Mollenkopf will remain at Qualcomm as a strategic advisor for an undisclosed period of time, the company said.
Mollenkopf became CEO in March 2014. The company said his work helped propel smartphones into the mainstream, adding that he oversaw Qualcomm's expansion into new industry segments such as the Internet of Things, RF Front End, and automotive.
"Steve navigated through unprecedented circumstances during his tenure, facing more in his seven years as CEO than most leaders face in their entire careers," Mark McLaughlin, chair of Qualcomm's board of directors, said.
Mollenkopf said he was "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."
"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," he added.