Qualcomm to discuss former chairperson leaving after trying to acquire the company himself
New Orleans — Qualcomm’s board of directors was meeting on Friday to discuss former chairperson Paul Jacobs leaving its board after he informed the US semi-conductor company he was exploring ways to acquire it, people familiar with the matter said on Friday. The deliberations come just a few days after an order by US President Donald Trump blocked a $117bn hostile bid from Singapore-based rival Broadcom to acquire Qualcomm, due to national security concerns. While Jacobs supported Qualcomm’s resistance to Broadcom’s bid, he increasingly clashed with other members of the San Diego-based company’s board, including CEO Steve Mollenkopf, over how Qualcomm defended itself, the sources said. Jacobs’ attempt this week to put together an offer to acquire Qualcomm by reaching out to investment firms, including SoftBank Group,’s Vision Fund, was a result of his disaffection, the sources added. Jacobs is likely to step down from Qualcomm’s board, the sources said. His name would then be remove...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.