Steve Mollenkopf is retiring as CEO of Qualcomm after 26 years at the company, and will be replaced by Cristiano Amon.

Mollenkopf has served as CEO since 2014. Prior to serving as CEO, Mollenkopf began his career at Qualcomm as an engineer, giving him an invaluable insight into the technical aspects of the company’s business. In recent years, Mollenkops has guided the company through major industry transitions, including the development of 5G, as well as fending off antitrust lawsuits the company faced.

“Steve navigated through unprecedented circumstances during his tenure, facing more in his seven years as CEO than most leaders face in their entire careers,” said Mark McLaughlin, Chair of Qualcomm’s Board of Directors. “Under Steve’s leadership, the Company remained focused and created immense value for stockholders, inventing key technologies that are driving economic growth and improving lives. On behalf of the entire Qualcomm Board, I want to thank Steve for the vision and leadership he brought during his years as CEO and for leading what I am confident will be a seamless transition. Cristiano was the clear choice to be Qualcomm’s next CEO, having the track record of successful execution, deep Company knowledge, very strong relationships with our ecosystem of partners, and the strategic vision to take the Company forward. He is an authentic leader who has played a critical role in the Company’s success. We look forward to working together with him to lead the Company through its next chapter of growth.”

Cristiano Amon will replace Mollenkopf after serving as Qualcomm President since 2018. Amon has been responsible for Qualcomm’s semiconductor business and played and important role in the company’s 5G strategy. This experience makes him the obvious choice for the company moving forward.

“I am immensely proud of all that we have accomplished at Qualcomm and the position the Company currently enjoys as the world’s leader in wireless technologies,” Mollenkopf said. “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 was also a key architect and driver of Qualcomm’s strategy to expand and diversify our business beyond mobile and into new industry segments such as Auto, RF Front-End and IoT. Qualcomm is well positioned for the future and I am confident that with Cristiano as CEO, the Company will continue to invent leading technologies and create value for all of our stakeholders.”

The transition will effective June 30, 2021.