Qualcomm: shares drop as CFO leaves for Intel

(CercleFinance.com) - Qualcomm said late on Tuesday that its chief financial officer (CFO) is leaving the company for giant Intel, with the share down 0.
5% as a result.

The company announced that George Davis, 61, has decided to leave the company after a six-year stint, effective as of today.

Qualcomm has appointed its treasurer, David Wise, as interim CFO during the search for a permanent replacement.

In a separate statement, Intel confirmed the appointment of Davis as executive vice president and chief financial officer, effective as of 3 April, with a view to a "disciplined" approach to capital allocation.

Intel shares were up 1.9% after the announcement.

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