Qualcomm pulls semiconductor spinoff, COO resigns

Mobile communications technology company Qualcomm said it was scrapping plans to spin off its semiconductor business and announced a business realignment and management shake-up, replacing Chief Operating Officer Richard Sulpizio. Qualcomm, whose code division multiple access (CDMA) technology plays a major role in the new generation of wireless communications in the US, said Sulpizio would be replaced as COO by Anthony Thornley, who will retain his duties as chief financial officer. The company said Sulpizio, who joined Qualcomm in 1991 and was named president and chief operating officer in 1998, had resigned to pursue personal interests. Sulpizio will remain on Qualcomm's board of directors.