Software vendor Microsoft has missed a major chance to hire Steve Mollenkopf as its new CEO because Qualcomm, the wireless chip major, on Friday elevated him as its new CEO.
As a result, Paul E Jacobs will step down as the CEO of Qualcomm from March 2014. This is a major development for Qualcomm as Jacobs is from the family that co-founded Qualcomm.
Microsoft, according to media reports, was considering Steve Mollenkopf its new CEO and replacement of Steve Ballmer. Microsoft considered him for the top position because of his technical talent and significant contribution to Qualcomm.
Qualcomm on Friday said Mollenkopf’s elevation to CEO from the present position of president and chief operating officer is from 4 March 2014. The chip vendor says Mollenkopf’s appointment is part of a succession plan.
Paul E Jacobs will assume the role of executive chairman on March 4, 2014, helping guide development of new technology and Qualcomm’s long-term opportunities. As the new CEO of Qualcomm, Mollenkopf will be responsible for all lines of business and all functional groups in the company.