This weekend I wrote that Qualcomm's stock price would bounce should the CEO be replaced. Well, that didn't quite happen but it was announced today that the general counsel, Lou Lupin, resigned. The stock did indeed bounce, though only about one point.
So, is Mr Lupin the scapegoat or is he taking responsibility for the legal mess in which Qualcomm finds itself?
It's hard to know how much Paul Jacobs, the CEO, set strategy for the legal team or whether the legal team provided bad advice to the CEO. Someday, someone should write a book on this debacle.
Disclosure: QCOM is part of our model portfolio
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