Qualcomm has decided to shift around its senior management, including promoting long-serving employee and president Steve Altman to vice chairman.
Also enjoying a shuffling is Steve Mollenkopf, who was executive vice president and president at Qualcomm CDMA. Now he will become president and chief operating officer, tasked with looking over all of the company's divisions, along with market expansion, reports the Wall Street Journal.
There's more: Derek Aberle, who until now has been looking after Qualcomm's licensing, replaces Mollenkopf to become executive VP and group president. There, he will play overseer to the core services business.
Qualcomm is generally accepted as one of the most disruptive companies in the industry. As wireless booms, so does Qualcomm, and it is plugging an awful lot of money into research and development to become more important.
The management shift is unexplained, but appears to be a natural climbing of the rungs for a company currently on top of its game.