Amon, who has been with the San Diego-based company since
1995 and became president in 2018, will replace outgoing CEO Steven Mollenkopf,
effective June 30.
In recent years Amon has overseen the company's chip
division, which supplies processors to most Android phones and modem chips that
help Android devices and Apple's iPhone models connect to wireless data
networks.
A strong proponent of 5G, the new generation of faster
wireless networks, he has led Qualcomm's push to put 5G chips into low and
mid-priced handsets. He has also guided the company's expansion into new areas
such as 5G infrastructure equipment, automotive computers, and personal
computers.
"We have been at the forefront of innovation for
decades and I look forward to maintaining this position going forward,"
said the 50-year-old, a native of Brazil who restores vintage muscle cars in
his spare time.
But Amon, who also played a role in Qualcomm's licensing
division as company president, will face some tough challenges as CEO, such as
how to deal with Qualcomm's heavy reliance on intellectual property from Arm
for its processor chips.
Arm is in the middle of a $40 billion takeover by Nvidia,
which has a brewing rivalry with Qualcomm in chips for artificial intelligence.
Amon could be forced to find a replacement for Arm's
intellectual property if Qualcomm concludes that depending on a competitor
creates too much long-term risk.
Qualcomm has already started using more of its own
intellectual property in chips for artificial intelligence and is using an Arm
alternative called RISC-V in certain parts of its phone processors.
Qualcomm designs chips but outsources their manufacturing,
largely to Taiwan Semiconductor Manufacturing in Taiwan and Samsung in Korea.
US lawmakers recently approved a programme to bolster domestic semiconductor
manufacturing. Amon said Qualcomm, which has huge sway with chip factories
because of its sales volume, plans to retain its outsourcing strategy but would
consider future US factories.
"We're one of the few companies that actually have
multi-sourcing on the leading node. And we expect to be that way," he told
reporters during a press conference. "We actually look very favorably on
more foundry investment, including in the United States. That's very good for
Qualcomm and very good for the industry."
The current CEO, Mollenkopf, is himself no stranger to
challenges, having guided Qualcomm through three crises: A hostile takeover
attempt by Broadcom, an antitrust challenge by the US Federal Trade Commission
and a protracted legal battle with Apple.
Qualcomm prevailed in all three cases, and the 52-year-old,
who has been with the company for 26 years, leaves with its shares riding at
nearly three times their value during the depth of the crises.
"Steve navigated through unprecedented circumstances
during his tenure, facing more in his seven years as CEO than most leaders face
in their entire careers," said Mark McLaughlin, chair of Qualcomm's board.
Mollenkopf will remain with Qualcomm as an adviser for a
period of time, the company said.
© Reuters