Paul Jacobs relinquishes executive chairmanship of Qualcomm

Dr. Paul E. Jacobs will no longer serve as Executive Chairman of the Qualcomm Board of Directors. Jeffrey W. Henderson, an independent Qualcomm director since 2016, will serve as Non-Executive Chairman.

Dr. Jacobs will continue to serve on the Qualcomm Board, but will no longer serve in an executive management capacity.

Qualcomm said its Board believes that an independent Chairman is now more appropriate than an Executive Chairman.

Dr. Jacobs has served as Chairman of the Board of Qualcomm since 2009, as Executive Chairman since 2014 and as a director since 2005. He served as Chief Executive Officer from 2005 to 2014, Group President of Qualcomm Wireless & Internet from 2001 to 2005, and as an executive vice president from 2000 to 2005.

Tom Horton, Lead Director, said, “On behalf of the entire Board, I want to thank Paul for his tireless dedication to Qualcomm over many years. Paul is a technology visionary whose ideas and inventions have contributed significantly to the growth of both the Company and the industry. Paul has led the development of generations of semiconductors that have fueled smart phones and the worldwide wireless revolution of the past 30 years. His deep expertise, coupled with a focus on innovation, have made Qualcomm a leader in critical technologies and positioned us at the forefront of the industry. We are grateful to have Paul’s continued contributions as a member of the Board. His extensive knowledge of our business, products, strategic relationships and opportunities, as well as the rapidly evolving technologies and competitive environment in our industry, are invaluable to our Board.”

Mr. Henderson served as Chief Financial Officer of Cardinal Health Inc. from 2005 to 2014. Prior to joining Cardinal Health, Mr. Henderson held management positions at Eli Lilly and General Motors, including serving as President and General Manager of Eli Lilly Canada, Controller and Treasurer of Eli Lilly Inc., and in management positions with General Motors in Great Britain, Singapore, Canada and the U.S.