On January 5, 2021, Qualcomm announced that its current CEO, Steve Mollenkopf, will be stepping down shortly. However, he did not open the door and when he was only 52 years old he was given a post on the council. As of June 30, he will be replaced by Cristiano Amon, a senior executive who arrived in 1995, according to Reuters.
For the past few years, Cristiano Amon has overseen the microprocessor department of Android and iPhone devices. He has also worked on developing 5G infrastructures, computers, and smart cars. It’s unclear whether the move will come after the top chipmaker’s loss, with MediaTek taking Qualcomm’s place.
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This change of direction comes at a time when 5G is putting forward new guidelines for Qualcomm. Developing the new network will therefore not be one of the many challenges facing Steve Mollenkopf, who has been in office since 2014 and has already spent 26 years at Qualcomm. His successes include handling the dispute with Apple that resulted in a check for nearly $ 4.5 billion and Apple using Qualcomm 5G chips for the iPhone 12. Not to mention the legal issues. with the Federal Trade Commission, which ultimately ruled the company’s business practices were not anti-competitive. He also avoided Broadcom’s acquisition of Qualcomm. Under the leadership of Steve Mollenkopf, the company’s market value rose 96.7%. In 2020 there was an increase of 71.7%.
“Steve went through unprecedented circumstances in his tenure and had more problems in his seven years as CEO than most leaders in their careers,” said Mark McLaughlin, chief executive officer. Qualcomm directors.