Chief Operating Officer Len Lauer has resigned from his post in Qualcomm Inc, to accept the post of Chief Executive Officer at other company.

Instead of going for a new operating chief, company has restructured itself making MEMS Technologies to report to Steve Mollenkopf, who is a head of Qualcomm Technologies unit, and other remaining services businesses will be reporting to President Altman from 1st Jan onwards.

52 years old Mr. Lauer joined Qualcomm in 2006 after quitting from the post of chief operating officer at Sprint Nextel Corp and was promoted to operating officer in 2008.

Qualcomm is based in San Diego and is in the field of making chipsets and other components based on CDMA technology.

Fiscal year forecast issued by Qualcomm last month fell short of expectations of Wall Street. Qualcomm assigned this shortfall to reduction in demand of handsets based on CDMA technology.

Company’s business is improving since last few months and on Thursday, the company’s share got a jump of 15 cents to trade at a new high of $46.10.