Globalstar, Inc. announced that Paul E. Jacobs, Ph.D., founder and CEO of XCOM Labs and former CEO and Executive Chairman of Qualcomm, has been appointed CEO of Globalstar, effective immediately. Dr. Jacobs has also been appointed to Globalstar’s Board of Directors. He succeeds David Kagan, who will retire as Globalstar’s CEO.
Dr. Jacobs is an accomplished leader and innovator who brings to Globalstar deep wireless industry experience and a track record of driving innovation-led growth, including growing Qualcomm’s revenues from $5.7 billion to $25.7 billion as CEO from 2005 to 2014 while adding approximately $50 billion to its market capitalization. As Globalstar’s CEO, he will drive the Company’s ongoing strategic initiatives to develop and deploy innovative solutions across terrestrial and satellite for customers around the world.
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In conjunction with Dr. Jacobs’ appointment, Globalstar has also entered into a strategic perpetual licensing agreement for exclusive access to certain key XCOM technologies and personnel. The license covers a number of XCOM’s novel technologies for wireless spectrum innovations, including XCOMP, XCOM’s commercially available coordinated multipoint radio system. XCOMP delivers substantial capacity gains and other benefits in dense, complex, challenging wireless environments in sub 7 GHz spectrum. Globalstar also gains exclusive access to XCOM’s peer-to-peer connectivity technologies that could have applications across cellular and satellite devices.
Dr. Jacobs said, “I have devoted my career to advancing and commercializing innovation in wireless technology and am thrilled to continue this journey as CEO of Globalstar. The teams I’ve led have demonstrated the value creation that is possible by applying new technology to enhance capacity of underappreciated spectrum, and that is one of the many opportunities I see at Globalstar.”
Jacobs continued, “Bringing together Globalstar’s terrestrial spectrum and relationships with leading partners around the world with XCOM’s differentiated technology, which is well suited for high-performance applications, creates a significant opportunity to deliver for private network customers with mission-critical needs. At the same time, Globalstar’s continued innovations in satellite connectivity are just as exciting, particularly in small form-factor devices. Through the combination of Globalstar’s resources and XCOM’s technology, we can bring even more innovation to market. I look forward to working with the talented Globalstar team and its many commercial partners to advance growth across the Company’s four well-articulated strategic pillars and create long-term shareholder value.”
SOURCE: Businesswire