Qualcomm Inc. on Tuesday named Paul Jacobs as chief executive officer to succeed his father, Irwin Jacobs, who will remain chairman of the digital wireless company he helped found.
Paul Jacobs, 42, who will assume the CEO position on July 1, currently serves as executive vice president and president of Qualcomm’s Wireless and Internet Group.
The company said that Irwin Jacobs, 71, will remain an employee of the San Diego-based company and will help guide its future.
In addition, Qualcomm, which develops the CDMA mobile technology used in mobile phones, said Chief Operating Officer Tony Thornley will retire. Steven Altman, currently executive vice president and president of Qualcomm Technology Licensing, will become company president.
“The succession plan we are announcing today enables a smooth transition to a capable and proven management team while providing for ongoing contributions from Qualcomm’s founder and chairman of the board,” Qualcomm board member Marc Stern said in a statement.
