Qualcomm Inc. is preparing to appoint two new directors, Reuters reported on Sept. 18, citing unnamed sources.
Reuters said the candidates are Irene Rosenfeld, former CEO of Mondelez International Inc., and Martin Anstice, CEO of Lam Research Corp. The news service said Rosenfeld and Anstice were in advanced talks to join the board, and that the two additions would increase the number of board members from 12 to 14.
A Qualcomm representative said the company had no comment on the report.
Qualcomm (Nasdaq: QCOM) is working to make good on its pledge to increase earnings, following two thwarted attempts to grow. The company fought a hostile takeover attempt by Broadcom, eventually blocked by President Trump on national security grounds in March. In July, Qualcomm abandoned plans to acquire NXP Semiconductors N.V. after Chinese regulators declined to approve the deal.
More recently, Qualcomm has been buying back its stock, which has raised the share price.
Reuters reported that Qualcomm shareholders are uneasy, noting that board members were recently reelected with less than half of the shares outstanding, even though they ran unopposed.