Irwin Jacobs steps down as Qualcomm chairman

An era ended at Qualcomm yesterday when co-founder Irwin Jacobs stepped down as chairman.

Jacobs, 75, who was CEO of Qualcomm since it was founded in 1985 until 2005, will remain on the board, Qualcomm said.

Jacobs was a pioneer of CDMA, a high-capacity digital technology that became one of the main 2G standards and the prime 3G wireless interface.

His son Paul, who has been CEO since 2005, will take over as chairman.

Qualcomm shares rose 3.9% to $34.74 following the announcement.