(Alliance News) - Qualcomm Inc on Friday announced that Colin Ryan has been appointed chief strategy and corporate development officer.

The San Diego, California-based semiconductor and wireless telecommunications product and services company said Ryan, who will assume his new role immediately, is to report directly to the company's chief executive officer.

Prior to joining Qualcomm, Ryan spent over two decades at Goldman Sachs Group Inc, and held various leadership positions in both the US and Europe.

Most recently he founded his own investment firm, Clipper Street Capital Ltd.

President and Chief Executive Officer Cristiano Amon said: "Colin is a seasoned executive with a wealth of experience and expertise in business strategy, corporate development, and mergers and acquisition in the technology industry."

"As a former strategic advisor to Qualcomm, Colin brings a deep understanding of our business and diversification strategy, so is well positioned to help us execute the opportunities in front of us."

Qualcomm shares were down 1.3% to USD159.30 in New York on Friday afternoon.

By Elijah Dale, Alliance News reporter

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