Qualcomm Incorporated has announced that Len Lauer, it’s Chief Operating Operator, has resigned and has already accepted the role of CEO at some other company. The name of that company has not yet been disclosed by Qualcomm.
In lieu of this immediate resignation, QMT (Qualcomm MEMS Technologies) will now be headed by Steve Mollenkopf, EVP and president, QCT (Qualcomm CDMA Technologies). Though many people may argue against it, this sort of merger between QCT and QMT will only serve to boost Qualcomm’s overall performance. Indeed, the company states on it’s website that:
This organizational change provides an opportunity to re-align Qualcomm’s business groups.
Dr. Paul E. Jacob, chairman and CEO, Qualcomm, has stated :
During the past three years, Len’s leadership and expertise have helped Qualcomm expand business opportunities and further strengthen its relationships with operators and content providers. We are thankful to him for his service and wish him the best as he pursues new opportunities.
Steve Altman and Steve Mollenkopf have been invaluable in helping to guide Qualcomm’s strategy and success and I am pleased to have such a capable and seasoned executive leadership team to ensure a seamless transition for our customers, our suppliers and our employees.
Though the company is showing no signs of remorse at this loss, it should be noted that Qualcomm was on a very healthy rise this year. The resignation of it’s COO bodes no good for the company.