Qualcomm Ousts Paul Jacobs From Board as He Chases Long-Shot Bid for Chip Giant

Mony
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Qualcomm Inc. took the extraordinary step of removing former Chairman and Chief Executive Paul Jacobs from its board after he broached a long-shot bid for the chip-making giant.

The decision to oust Mr. Jacobs was made at a board meeting Friday, according to people familiar with the matter. At the meeting, he reiterated his desire to pursue a potential buyout after raising the issue in a letter to the board Tuesday, according to a person familiar with the events.

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