![Globalstar rallies 19% after naming Paul Jacobs as new CEO](https://i-invdn-com.investing.com/news/LYNXNPEAB20I9_L.jpg)
Globalstar, Inc. (NYSE:) has introduced a administration change right now with Paul E. Jacobs, Ph.D., who is understood for his position because the founder and CEO of XCOM Labs and his previous positions as CEO and Government Chairman of Qualcomm (NASDAQ:), as the brand new CEO.
This transition is efficient instantly. Dr. Jacobs has additionally assumed a place on Globalstar’s Board of Administrators, additional underscoring his important position inside the group.
Dr. Jacobs stated, “I’ve devoted my profession to advancing and commercializing innovation in wi-fi expertise and am thrilled to proceed this journey as CEO of Globalstar. The groups I’ve led have demonstrated the worth creation that’s doable by making use of new expertise to reinforce capability of underappreciated spectrum, and that is likely one of the many alternatives I see at Globalstar.”
GSAT shares rose as a lot as 19% in pre-open Tuesday.