QCOM QUALCOMM Inc

By Dave Sebastian 

Qualcomm Inc. said Friday its interim finance chief David Wise is retiring.

The move is effective Friday. The finance-chief change is the company's second one this year.

Mr. Wise has served in the interim role since April when George Davis left the company after six years as chief financial officer. Mr. Davis is now the CFO of Intel Corp.

Mr. Wise previously served as Qualcomm's senior vice president and treasurer. He joined the company in 1997.

Qualcomm said Akash Palkhiwala, the senior vice president of finance and the finance chief of Qualcomm CDMA Technologies, has become its interim CFO while the company looks for a permanent replacement. Qualcomm said Mr. Wise will remain in a consulting capacity.

Mr. Palkhiwala joined Qualcomm in 2001, having been in senior finance roles for more than 10 years.

Also on Friday, A federal appeals court froze a ruling that Qualcomm had committed an array of antitrust violations, a boost for the chip maker that allows it to maintain its business practices for now.

The Federal Trade Commission had sued the company, alleging it engaged in an illegal monopoly that harmed smartphone manufacturers and rival chip producers.

(END) Dow Jones Newswires

August 23, 2019 17:26 ET (21:26 GMT)

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