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Qualcomm finance chief to depart for rival Intel

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By Reuters

By Stephen Nellis

(Reuters) – Qualcomm Inc’s chief financial officer, George Davis, plans to depart the company, Qualcomm said on Tuesday, and a person familiar with the situation said Davis planned to join rival Intel Corp.

Davis has been the mobile chip supplier’s finance chief since 2013.

“On behalf of the Executive Team, I want to thank George for his dedicated service over the last six years at Qualcomm,” Qualcomm Chief Executive Steve Mollenkopf told Reuters in a statement. “We all wish him well in his future endeavors.”

Intel did not immediately respond to request for comment.

Intel has been without a permanent finance chief since January, when Bob Swan, who had joined as CFO in 2016, was promoted to become Intel’s chief executive. At that time, Intel said it would search for a full-time finance chief.

Davis and Swan have worked together before. Before joining Qualcomm, Davis was the chief financial officer of semiconductor equipment firm Applied Materials Inc at the same time that Intel’s Swan served on the board of directors.

(Reporting by Stephen Nellis in San Francisco; Editing by Peter Cooney)