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Qualcomm names Altman vice chairman, Mollenkopf to COO

Reuters News
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Posted: Oct 04, 2011 10:29 AM

NEW YORK (Reuters) - Qualcomm Inc <QCOM.O> has promoted Steve Altman to vice chairman and named another executive, Steve Mollenkopf, as chief operating officer, the cellphone chip supplier said on Tuesday.

The San Diego-based company said Altman, who served as Qualcomm president for six years, would continue as a member of the company's executive committee and provide direction on key initiatives as well as on overall vision and strategy.

As well as taking on company operations, Mollenkopf, will keep his role as president of Qualcomm CDMA Technologies (QCT), the company's chip business. Mollenkopf and Altman will report directly to Chief Executive Paul Jacobs.

Qualcomm also promoted Derek Aberle to executive vice president & group president in addition to his job as president of Qualcomm Technology Licensing (QTL), which sells technology licenses. Aberle will oversee Qualcomm's services businesses and marketing and will report to Mollenkopf, the company said.

Qualcomm said the job changes would take effect November 12. Its shares were down 81 cents or 1.7 percent at $46.83 in morning trading on Nasdaq.

(Reporting by Sinead Carew; editing by Maureen Bavdek)