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  After promotion, new Qualcomm CEO out of the Microsoft top-spot race
Time: 11:07 EST/16:07 GMT | News Source: ZDNet | Posted By: Byron Hinson

Qualcomm has named Steve Mollenkopf as its new chief executive, the company announced Friday. Mollenkopf, currently the chief operating officer, will replace Paul Jacobs, who remains the company's executive chairman, on March 4, 2014 when shareholders can approve the deal. It comes just a day after the latest rumors that Mollenkopf could be a contender in the running to replace outgoing Microsoft chief executive Steve Ballmer, who announced earlier this year he would retire.

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