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Qualcomm names Aberle president as Mollenkopf moves to CEO role

Qualcomm Inc. (Nasdaq: QCOM), the biggest provider of mobile-phone chips, promoted Derek Aberle to president, naming a second-in-command to new CEO Steve Mollenkopf.

Aberle, 43, was an executive vice president in charge of Qualcomm’s technology licensing business, which generates about two-thirds of profit, the company said in a statement Monday.

The unit has more than doubled its earnings and revenue with Aberle in charge, Qualcomm said. Mollenkopf has said his top priority is to get more licensing revenue and chip sales from makers of phones that work on China Mobile Ltd.’s network. The world’s largest wireless carrier is upgrading to the long term evolution, or LTE, standard, which will boost demand for Qualcomm’s chips and revenue from licensing, the company has said.

“Derek has been instrumental in creating and growing many important areas of Qualcomm’s business,” Mollenkopf said in the statement.

Qualcomm shares rose less than 1 percent to close Monday at $77.07, before the announcement, leaving them up 3.8 percent this year.

Mollenkopf replaced Paul Jacobs, who moved to the chairman role, at the company’s annual shareholder meeting last week. Aberle has a bachelor’s degree in economics from the University of California, Santa Barbara, and a law degree from the University of San Diego.

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Qualcomm Inc.

Company Website

5775 Morehouse Dr.
San Diego, CA 92121

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
QCOM
59.91
  0.65  
+ 1.10%
8,924,775,000
78.53
52.17

Insider Trade Data

Date Insider Shares Type Value
10/05/2015 Renduchintala, Venkata S 2,700 Sell $150,066
10/05/2015 Renduchintala, Venkata S 2,700 Sell $150,066
10/01/2015 Amon, Cristiano Renno 2,737 Sell $146,621
10/01/2015 Amon, Cristiano Renno 2,737 Sell $146,621
09/11/2015 Vinciquerra, Anthony J 1,000 Purchase $54,700

Qualcomm Inc. Executive(s):

Irwin Mark Jacobs

  • Founding Chairman, CEO Emeritus

Paul Jacobs

  • Executive Chairman

Tamar Elkeles

  • Vice President

Don Jones

  • Vice President

Don Rosenberg

  • General Counsel

Mark Leslie

  • Vice President, External Affairs

Steven Altman

  • Vice Chairman

Steve Mollenkopf

  • Chief Executive Officer

Derek Aberle

  • President

Navrina Singh

  • Director of Product Management

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2012