Qualcomm’s interim finance chief retired on August 23. Akash Palkhiwala, Qualcomm’s senior vice president of finance, will serve as the company’s new interim CFO, as Qualcomm seeks a permanent replacement. Wise will continue to serve the company in a consulting capacity, according to a news release.
Wise was named interim CFO of Qualcomm in April, after former CFO George Davis was poached by competitor Intel Corp. Wise had worked for the company for 23 years, including 12 years as part of its finance leadership team. He most recently served as the company’s senior vice president and treasurer.
“On behalf of the executive team, I want to thank Dave for his long service to Qualcomm, and particularly for taking on the interim CFO role for the last five months. We all wish him well,” Qualcomm CEO Steve Mollenkopf said in a news release. “I am confident that Akash Palkhiwala has the experience and deep understanding of our business to lead our finance function while we continue our efforts to identify a permanent CFO.”
Palkhiwala most recently served as senior vice president of Qualcomm CDMA Technologies, Qualcomm’s chip business unit. In that role, he headed up finance responsibility for the company’s chipset products, including mobile, auto and IoT.
He has worked for Qualcomm since 2001, including 10 years as part of Qualcomm’s senior finance leadership team. He has also previously served as senior vice president and treasurer for Qualcomm.