Early on September 20, Beijing time, according to Bloomberg, citing sources familiar with the matter, Qualcomm's board plans to give CEO Steve
People familiar with the matter say the new pay plan stems from the progress Morenkov and his senior management team have made in recent years in overcoming a series of challenges.
In the four and a half years of morencov's Qualcomm CEO, the company faced challenges from all sides. Apple, for example, stopped using Qualcomm products, stopped paying them patents, and launched a worldwide patent war with them. Regulators in many regions took action against Qualcomm. The company was also almost a hostile takeover by rival Broadcom. And Qualcomm's recent acquisition of NXP failed.
Despite a series of challenges, Morenkov believes the company will eventually gain the upper hand because the industry needs their wireless technology. Although many investors disagree with his confidence, and his share price has lagged behind the industry as a whole, there are still signs that this forecast is gradually being fulfilled.
The action taken by Taiwan regulators in China has been cancelled. Samsung, the world's largest mobile phone manufacturer, has also signed a long-term patent licensing agreement with the company and is cooperating with it. Analysts said the dispute between HUAWEI and the company has also been resolved.
After the failure of NXP's purchase, Qualcomm used large amounts of cash to buy back shares. The move, along with other options, helped the company's share price rise more than 15% this year, surpassing the semiconductor index on the Philadelphia Stock Exchange over the same period.