Qualcomm Inc. is being restructured into two groups and the company has withdrawn plans to spin off its semiconductor business.
Under the new plan, announced Tuesday, Qualcomm will consist of a Wireless & Internet Group and a CDMA (code division multiple access) Technologies Group, the company said in a statement. Qualcomm's board of directors also approved the appointment of Anthony Thornley as chief operating officer (COO). Thornley will also retain his position of chief financial officer, Qualcomm said. Thornley replaces Richard Sulpizio, who resigned Tuesday from his position of COO, but opted to remain on the board of directors.
Qualcomm's Board of Directors also appointed Paul Jacobs as president of the Wireless and Internet Group, the company said. Jacobs will oversee technology licensing, Internet services, wireless business solutions and digital media. Donald Schrock was appointed group president of the CDMA division, the company said.
The group presidents will report directly to Irwin Jacobs, Qualcomm's chairman and chief executive officer, the company said.