San Francisco, Jan 6 (IANS): Chip maker Qualcomm on Tuesday announced that Cristiano Amon will succeed Steve Mollenkopf as CEO, effective from June 30.

Mollenkopf informed the Board of his decision to retire as CEO following 26 years with the company.

Amon, who has worked at Qualcomm since 1995, is currently President of the Company.

Mollenkopf will continue his employment with the Company as a strategic advisor for a period of time, the company said in a statement.

Mollenkopf said that with "our business model clearly validated and our leadership in 5G, this is the right time for Cristiano to assume leadership of the Company and preside over what I see as the single largest opportunity in the Company's history.

"Cristiano spearheaded the development of our 5G strategy, including its acceleration, industry-leading technology roadmap and global rollout," he added.

Amon, 50, has served as President, Qualcomm since January 2018.

In this role, he is responsible for Qualcomm's semiconductor business (QCT), which includes Mobile, RF Front End, Automotive and IoT revenue streams, and the company's global operations.