Qualcomm has named Steve Mollenkopf as its new CEO, following rumours that the executive had been under consideration by Microsoft as a possible replacement for outgoing chief Steve Ballmer.
The appointment makes it unlikely Mollenkopf is still in the running for the top job at Microsoft.
Mollenkopf, currently serving as COO, will take over from the present CEO Paul Jacobs in March, although Jacobs will stay on as executive chairman to "help guide development of new technology and Qualcomm’s long-term opportunities".
"I want to congratulate Steve on his expanded role," Jacobs said, adding: "I very much look forward to continuing to work with Steve.”
The Microsoft rumour surfaced only yesterday in a report from Bloomberg, which reported that Mollenkopf was one of the candidates being considered to replace Ballmer.
That list is also thought to include former Nokia CEO Stephen Elop, Microsoft's head of cloud Satya Nadella and Ford CEO Alan Mulally. Bloomberg's sources however indicated that there was concern over Mulally's lack of technology experience, and the car maker has said that its CEO will stay on through next year.
Mollenkopf certainly has technical experience: he holds several wireless patents and started at Qualcomm as an engineer in 1994. Such a hire would have given a boost to Microsoft in the mobile market, where it lags behind Google and Apple.
A source separately told Reuters that Microsoft was down to a handful of candidates for its next CEO. The company is thought to be in the final stages of the selection process, and although Microsoft gave itself a full 12 months to replace Ballmer when he announced his retirement in August, a decision is expected by the end of the year.
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