Globalstar, Inc. has announced that Paul E. Jacobs, founder and CEO of XCOM Labs and former CEO and executive chairman of Qualcomm, has been appointed CEO of Globalstar. Jacobs has also been appointed to Globalstar’s board of directors. He succeeds David Kagan, who will retire as Globalstar’s CEO.
Jacobs brings to Globalstar deep wireless industry experience and a track record of driving growth, including growing Qualcomm’s revenues from $5.7 billion (€5.26 billion) to $25.7 billion (€23.71 billion) as CEO from 2005 to 2014 while adding approximately $50 billion (€46.12 billion) to its market capitalisation. As Globalstar’s CEO, he will drive the company’s ongoing initiatives to develop and deploy new solutions across terrestrial and satellite for customers around the world.
In conjunction with Jacobs’ appointment, Globalstar has also entered into a perpetual licensing agreement for access to certain key XCOM technologies and personnel. The license covers a number of XCOM’s novel technologies for wireless spectrum, including XCOMP, XCOM’s commercially available coordinated multipoint radio system. XCOMP delivers substantial capacity gains and other benefits in dense, complex, challenging wireless environments in sub 7 GHz spectrum. Globalstar also gains access to XCOM’s peer-to-peer connectivity technologies that could have applications across cellular and satellite devices.
Jacobs says, “I have devoted my career to advancing and commercialising 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.”
Jacobs continues, “Bringing together Globalstar’s terrestrial spectrum and relationships with leading partners around the world with XCOM’s differentiated technology, which is well suited for high-performance applications, creates a significant opportunity to deliver for private network customers with mission-critical needs. At the same time, Globalstar’s continued innovations in satellite connectivity are just as exciting, particularly in small form-factor devices. Through the combination of Globalstar’s resources and XCOM’s technology, we can bring even more innovation to market. I look forward to working with the talented Globalstar team and its many commercial partners to advance growth across the company’s four well-articulated strategic pillars and create long-term shareholder value.”
Globalstar executive chairman Jay Monroe says, “We have deep respect and familiarity developed from a close working relationship with the XCOM team over the last 20 years. Some of XCOM’s leaders contributed to the original Globalstar system while at Qualcomm, and we believe we will continue to break new ground with this team. Paul is a technology pioneer and proven leader who is well suited to drive Globalstar’s next phase of growth across our satellite and terrestrial assets and cement our position as a market disruptor.”
Monroe adds, “The engineering prowess extends throughout the XCOM organisation, including to Matt Grob, Peter Black, Tamer Kadous and Daaman Hejmadi, amongst many others. Our partnerships with world-class customers, including our pioneering work in direct to device connectivity from our satellites, as well as our collaborations with Qualcomm, Nokia and others with Band n53, demonstrate the strength of Globalstar’s momentum and growing commercial solutions. We expect that Paul’s leadership, combined with this licensing agreement, will boost Globalstar’s ability to unlock the value of our global satellite and terrestrial assets and accelerate the introduction of new and innovative solutions for our customers, with the continued goal of driving long-term shareholder value.”
Monroe also adds, “I also want to thank David Kagan for leading Globalstar so capably since 2017, helping build the foundation for the company’s future growth and supporting a seamless transition of his duties to Dr. Jacobs and the new team.”
In addition to Jacobs, XCOM senior executives Matt Grob, chief technology officer, and Peter Black, chief scientist, have joined Globalstar. Also, Tamer Kadous, vice president of wireless, and Daaman Hejmadi, vice president of engineering, have accepted Globalstar’s offers of employment and are expected to join Globalstar after completing a transition period with XCOM. Collectively, these engineers are expected to help accelerate the company’s ongoing commercialisation work across both satellite and terrestrial spectrum areas of the business, as well as develop capabilities and applications that leverage Globalstar’s assets in new ways.
Their skills in developing wireless connectivity solutions complements Globalstar’s experienced team. Their efforts will be enhanced by dozens of XCOM employees, including engineering, test, product and R&D professionals who will remain with XCOM and continue to drive improvement.
Monroe continues, “The fact that we are attracting such visionary technologists to lead us going forward is a testament to the high caliber of Globalstar talent today, as well as the opportunity created by Globalstar’s differentiated assets.”
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