Steve Mollenkopf is the new CEO of Qualcomm. Mollenkopf headed Qualcomm’s mobile business for years and needless to say he has a great track record.

He was promoted unanimously, while at the same former CEO Paul Jacobs was given a new role, that of Executive Chairman. Jacobs is not going anywhere though. This 52-year-old industry veteran is the son of Qualcomm co-founder Irwin M. Jacobs. Paul Jacobs' brother Jeff Jacobs served as the CMO of Qualcomm for years.

Steve Mollenkopf has been with Qualcomm for two decades. Yesterday it was reported that Mollenkopf is Microsoft’s top pick to succeed outgoing CEO Steve Ballmer. It appears that Redmond will have to go head hunting from scratch.

However, Mollenkopf is still the CEO-elect. He will formally take over in March, ensuring a smooth transition.