Qualcomm names Cristiano Amon as new CEO

Qualcomm on Tuesday said Cristiano Amon will succeed Steve Mollenkopf as CEO, effective from June 30.

Mollenkopf had been the CEO since 2014 and faced patent dispute with Apple, anti-trust investigation from the Fair Trade Commission.

He also led Qualcomm in the years of its rapid growth and high profitability.

Mollenkopf said that with "our business model clearly validated and our leadership in 5G, this is the right time for Cristiano to assume leadership of the company and preside over what I see as the single largest opportunity in the company's history.

"Cristiano spearheaded the development of our 5G strategy, including its acceleration, industry-leading technology roadmap and global rollout," he added.

Amon joined Qualcomm in 1995 and has been the president since 2018. As president, he is responsible for Qualcomm's semiconductor business (QCT), which includes Mobile, RF Front End, Automotive and IoT revenue streams, and the company's global operations.