Qualcomm declares Strategic Realignment Plan

Qualcomm Incorporated has initiated a Strategic Realignment Plan designed to improve execution, enhance financial performance and drive profitable growth as the Company works to create sustainable long-term value for stockholders. The Company also announced that it has entered into an agreement with JANA Partners pursuant to which Mark McLaughlin and Tony Vinciquerra have been added to the Board of Directors and a third director to be selected by the Company and consented to by JANA will be added promptly.

qualcomm logo 150x150 Qualcomm declares Strategic Realignment PlanThe core elements of the new plan include:

    Aggressively right-sizing the cost structure by eliminating approximately $1.4 billion in spending, including an approximately $300 million reduction in annual share-based compensation grants; Company expects to achieve this run-rate by the end of fiscal year 2016
    Reviewing alternatives to the Company’s corporate and financial structure...Read more