Qualcomm names chip chief Cristiano Amon as CEO

By Stephen Nellis

(Reuters) – Qualcomm (NASDAQ:QCOM) Inc said on Tuesday it had named its President Cristiano Amon as chief executive, replacing Steven Mollenkopf.

Amon has in recent years overseen the company’s chip division, which supplies processors to most of the Android phone ecosystem and modem chips that help both Android devices and Apple Inc (NASDAQ:AAPL)’s iPhones connect to wireless data networks.

San Diego-based Qualcomm is the biggest supplier of such chips, and Amon has overseen the company’s expansion into new areas such as 5G communications and personal computers.

Mollenkopf, a 26-year company veteran, guided Qualcomm through three crises: A hostile takeover attempt by Broadcom (NASDAQ:AVGO) Inc, an antitrust challenge by the U.S. Federal Trade Commission and a protracted legal battle with Apple.

Qualcomm prevailed in all three cases, and Mollenkopf leaves with its shares riding at nearly three times their value during the depth of the crises. He will remain with Qualcomm as an adviser for a period of time, the company said.