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Business Briefing

Mollenkopf Now Qualcomm CEO, Out of Microsoft CEO Race

Mollenkopf Now Qualcomm CEO, Out of Microsoft CEO Race
December 13, 2013 10:31AM

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It was only a day ago that reports surfaced that Microsoft was closely looking at Qualcomm's Steve Mollenkopf, pictured, as the best candidate for CEO (outside of Alan Mulally, who elected to stay at Ford). So Mollenkopf's promotion to Qualcomm CEO is surely causing distress within Microsoft, which needs to find a new CEO by early 2014.

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The list of candidates that Microsoft is considering for the position of CEO is getting shorter every week. Only a month ago, the tech giant was able to get its candidate list down to four names but that list appears to have decreased to two names now that Qualcomm COO Steve Mollenkopf is going to be promoted to CEO of his company.

It was only a couple of weeks ago that the top candidate, Ford CEO Alan Mulally, was all but ruled out as a possible choice. Microsoft now has just a couple of reported candidates, making it more likely that the company will choose someone from within the company to take over Steve Ballmer's CEO spot.

The Promotion

Mollenkopf has been with Qualcomm for 20 years. Now that the company's current CEO Paul Jacobs is stepping down, Mollenkopf is getting ready to receive his promotion to CEO as well as his promotion to Qualcomm's Board of Directors.

"With today's announcement, we enable a smooth transition to a proven executive in Steve Mollenkopf, while providing for ongoing executive guidance and Board-level leadership from Paul Jacobs. Qualcomm's Board of Directors unanimously approved the appointment of Steve Mollenkopf to the board of directors and his transition to CEO. We have the highest degree of confidence that his leadership will further expand Qualcomm's impressive record of innovation and continued stockholder value creation," said Qualcomm's Sherry Lansing.

Although he is moving up in the company starting today by assuming the role of CEO-elect, Mollenkopf will not become the company's official CEO until March 4. As COO, Mollenkopf was able to manage Qualcomm's chip sector and in doing so, he has turned the company into the world's leading provider of mobile processors. Qualcomm's continued success under Mollenkopf made his promotion an obvious and safe choice.

Microsoft's Fewer Choices

With Qualcomm moving into consumer electronics as well as dominating the chip industry, Mollenkopf's promotion is significant. However, the promotion may affect Microsoft as well.

Due to Alan Mulally's success in turning Ford around without government aid, news that he was not leaving Ford to join Microsoft was so disappointing Microsoft investors that it caused a drop in the company's share value. Now that Mollenkopf appears to be out of the picture as well, Microsoft appears to be left with just a couple of candidates.

It was only a day ago that reports came out that Microsoft was closely looking at Mollenkopf as the best candidate for the job (outside of Mulally), so his promotion is surely causing distress within the tech giant, which needs to find a new CEO by early 2014, prior to Ballmer's departure.

Tell Us What You Think
Comment:

Name:

Steve O:

Posted: 2013-12-14 @ 11:33am PT
Would be curious to know which facts TechCEO thinks are in dispute.

Tech CEO:

Posted: 2013-12-14 @ 11:29am PT
We need some fact checking on isle bull-seth...



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