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Qualcomm will include New Board of Directors

Qualcomm will include New Board of Directors
The Siliconreview
19 September, 2018

Qualcomm, the U.S. Smartphone chip makers will include at least two new directors to its board. Last year, the company seemed to appease shareholders who didn’t participate in the voting support for its board.

The smartphone maker refused to take a $120B takeover bid from Broadcom Inc, eventually upsetting few investors. The company also failed to get a green signal from Chinese regulatory for its $44B acquisition of NXP Semiconductors NV and also failed to solve a long-lasting patent dispute with Apple Inc.

Last year, investors were not happy with Qualcomm when the company’s board of directors, including its CEO, were voted when 50 percent of the shares were outstanding and they were unopposed. Because of it, Paul Jacob (board’s chairman) left Qualcomm.

According to report, two members Irene Rosenfeld (former CEO of Mondelez International Inc) and Martin Anstice (CEO of Lam Research Corp) are in talks with Qualcomm to join their board.

By adding two more new members, Qualcomm’s board of directors will become expand from 12 to 14.  In June, Neil Smit (vice chairman of U.S. cable operator Comcast Corp) and Mark Fields, former CEO of carmaker Ford Motor Co was appointed to Qualcomm’s board.

According to Qualcomm, the company may add more members to its board. One of its board members, Thomas Horton (former chairman of American Airlines Group Inc), who served as the director for a decade is not yet clear on whether to participate in the elections again.