Tuesday, December 15, 2015
Qualcomm: No Changes After Strategic Review
San Diego-based Qualcomm says that its board of directors has decided to stay the course, and will make no change to the company's corporate and financial structure, after a strategic review by a special committee of its board. Qualcomm said that review, where it was assisted by independent advisors, concluded that the current structure "best positions Qualcomm to maintain its technology leadership and product strength, so as to drive the greatest long-term stockholder value." Qualcomm had launched the strategic review back in July, with a possibility of breaking up the company into separate parts. Qualcomm's review wass advised by Goldman Sachs and Evercore Partners, and came after layoffs and profit warnings from the company earlier this year, plus pressure from activist investors.