Qualcomm names Paul Jacobs CEO

Qualcomm today named its wireless and Internet group president Paul Jacobs to succeed his father Irwin Jacobs as the chipmaker’s CEO, effective July 1, 2005.

Qualcomm made the announcement at its annual stockholders meeting. Irwin Jacobs, who co-founded the company in 1985, will remain as chairman.

Qualcomm’s board of directors also announced the retirement of Anthony Thornley, the company’s current president. Steven Altman, who presently serves as vice president of Qualcomm and president of its Technology Licensing division, will replace Thornley.

According to Qualcomm, its board of directors began outlining the succession plan in the spring of 2002, with the recommendation to promote Jacobs and Altman unanimously approved earlier this week.

Jacobs joined Qualcomm in 1990, later spearheading the company’s work in global positioning systems as well as overseeing the initial work on its BREW platform. Most recently, he developed the technological and market strategies for the fledgling MediaFLO wireless multicasting system. Altman joined Qualcomm in 1989, and during his time at the helm of its Technology Licensing arm, the company has entered into more than 125 licensing agreements with telecom and electronics firms across the globe.