© Reuters. GlobalStar (GSAT) rallies 19% after naming Paul Jacobs as new CEO
Globalstar, Inc. (NYSE:) has announced a management change today with Paul E. Jacobs, Ph.D., who is known for his role as the founder and CEO of XCOM Labs and his past positions as CEO and Executive Chairman of Qualcomm (NASDAQ:), as the new CEO.
This transition is effective immediately. Dr. Jacobs has also assumed a position on Globalstar’s Board of Directors, further underscoring his significant role within the organization.
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.”
GSAT shares rose as much as 19% in pre-open Tuesday.
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