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Qualcomm Inc.
QCOM, -4.71%
On Friday, Dave Wise retired, effective today, after 23 years with the company. Qualcomm's board of directors has unanimously approved Akash Palkhiwala, senior vice president of finance, as acting chief financial officer, while the company is seeking a permanent replacement. The change of CFO is Qualcomm's second year this year. Wise has held the acting position since April, when George Davis left Intel after six years to join Intel Corp.
INTC, -3.89%
in the same capacity. Wise will consult for Qualcomm. The company's shares are up slightly after trading hours and 29% for the year. The S & P 500 index
SPX, -2.59%
is up 14% this year.
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