Globalstar Appoints Dr. Paul Jacobs As Chief Executive Officer; Announces Agreement To License XCOM Labs Technology
Portfolio Pulse from Happy Mohamed
Globalstar, Inc. (NYSE:GSAT) has appointed Dr. Paul Jacobs, founder and CEO of XCOM Labs and former CEO of Qualcomm, as its new CEO. Globalstar has also licensed XCOM Labs' technology to enhance its terrestrial wireless efforts. The company aims to accelerate and expand its ability to develop commercial applications and enter a broader range of end markets. The licensing agreement will be paid with approximately 60 million shares of Globalstar common stock.
August 29, 2023 | 12:13 pm
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POSITIVE IMPACT
Globalstar's appointment of Dr. Paul Jacobs and licensing of XCOM Labs' technology could potentially boost its innovation and market reach.
The appointment of a new CEO with a strong track record in the wireless industry and the licensing of new technology could potentially drive innovation and growth for Globalstar. This could have a positive impact on the company's stock in the short term.
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