Qualcomm appoints Patricia Grech as chief accounting officer, Neil Martin to lead corporate development

Qualcomm Incorporated (NASDAQ:QCOM), a $168.8 billion market cap semiconductor giant with a GREAT financial health score according to InvestingPro, announced Monday that Patricia Grech has been appointed Senior Vice President and Chief Accounting Officer, effective immediately. The move follows Neil Martin’s transition from his role as Senior Vice President, Finance and Chief Accounting Officer to Senior Vice President, Corporate Development, where he will oversee the company’s mergers and acquisitions and other strategic initiatives.

According to the company’s statement, Grech, age 53, most recently served as Vice President, Finance and Controller since December 2022, and previously as Vice President, Finance from May 2017 to December 2022. She has held various finance and accounting positions since joining Qualcomm in 2006. Grech holds a Bachelor of Science in Accountancy and Finance from Miami University of Ohio and an MBA from The Ohio State University.

The company reported that there is no arrangement or understanding with any person pursuant to which Grech was selected for the position, and there are no transactions involving Qualcomm and Grech that require disclosure under Item 404(a) of Regulation S-K.

In connection with her promotion, Grech will receive a base salary of $380,546 per year. Her target bonus under Qualcomm’s Annual Cash Incentive Plan will increase to 35% of her base salary beginning in fiscal year 2026. She will also receive a promotion grant of restricted stock units with a grant date fair value of $85,000 and will be eligible for standard company benefit programs.

Martin’s new role as Senior Vice President, Corporate Development is effective immediately. He steps down from his position as Chief Accounting Officer as part of this transition.

This information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Qualcomm reported its fiscal third-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.77, compared to the forecast of $2.71. The company posted revenues of $10.37 billion, slightly above the anticipated $10.33 billion. Management has provided guidance for the September quarter, predicting $10.7 billion in revenue and an EPS of $2.85, which exceeds analyst expectations. Benchmark maintained its Buy rating on Qualcomm, highlighting growth across all major business categories, including a 21% increase in automotive revenue and a 24% rise in the Internet of Things (IoT) segment. Cantor Fitzgerald reiterated a Neutral rating with a $150 price target following the earnings report. Meanwhile, Mizuho lowered its price target to $185 from $190, citing concerns about Qualcomm CDMA Technologies (QCT) margins, although it maintained an Outperform rating. These developments reflect Qualcomm’s ongoing performance and analyst perspectives on its future trajectory.

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