Globalstar Appoints Dr. Paul E. Jacobs as CEO: A New Era of Innovation Begins

Dr. Paul E. Jacobs Takes the Helm as CEO of Globalstar, Propelling Innovation and Growth in Wireless Solutions

Leadership Changes

Globalstar, Inc. (NYSE American: GSAT), a leading provider of wireless communications solutions, is pleased to announce a significant change in leadership. Dr. Paul E. Jacobs, a distinguished figure in the wireless industry, has been appointed as the new CEO of Globalstar. This announcement marks a pivotal moment for the company, as Dr. Jacobs brings a wealth of experience and a proven track record of innovation and growth.

A Visionary Leader Takes the Helm

Dr. Paul E. Jacobs is no stranger to driving innovation and fostering growth in the tech world. With a background as the founder and CEO of XCOM Labs and former CEO and Executive Chairman of Qualcomm, Dr. Jacobs has demonstrated his ability to navigate and succeed in dynamic and competitive landscapes. During his tenure at Qualcomm, he played a pivotal role in growing the company's revenues from $5.7 billion to an impressive $25.7 billion, while also adding approximately $50 billion to its market capitalization. Now, as the CEO of Globalstar, Dr. Jacobs is set to lead the company in its strategic initiatives aimed at delivering cutting-edge solutions across terrestrial and satellite technologies for customers worldwide.

Synergy of Expertise: A Strategic Licensing Agreement

In conjunction with Dr. Jacobs' appointment, Globalstar has entered into a strategic perpetual licensing agreement with XCOM Labs. This agreement grants Globalstar exclusive access to key XCOM technologies and personnel. Notably, this includes access to XCOMP, XCOM's innovative coordinated multipoint radio system, designed to provide substantial capacity gains and benefits in challenging wireless environments. Additionally, Globalstar gains exclusive access to XCOM's peer-to-peer connectivity technologies, which hold promise for both cellular and satellite devices.

Dr. Jacobs' Vision for the Future

Expressing his excitement about his new role, Dr. Jacobs stated, "I have devoted my career to advancing and commercializing innovation in wireless technology and am thrilled to continue this journey as CEO of Globalstar." He highlighted the potential to leverage Globalstar's terrestrial spectrum and relationships, combined with XCOM's technological prowess, to deliver innovative solutions to customers with mission-critical needs. Dr. Jacobs also emphasized Globalstar's advancements in satellite connectivity, particularly in small form-factor devices, and his commitment to driving further innovation with the combined resources of Globalstar and XCOM.

A Stronger Team for a Brighter Future

Dr. Jacobs' appointment comes with the addition of key XCOM executives to the Globalstar team. These additions include Matt Grob, Chief Technology Officer, and Peter Black, Chief Scientist, who bring a wealth of experience in wireless technology development. Tamer Kadous, Vice President of Wireless, and Daaman Hejmadi, Vice President of Engineering, are also set to join Globalstar, contributing their expertise in accelerating the company's commercialization efforts across both satellite and terrestrial spectrum areas.

Unlocking Value and Driving Growth

Globalstar's Executive Chairman, Jay Monroe, expressed confidence in the new leadership team, emphasizing Dr. Jacobs' potential to drive Globalstar's growth across satellite and terrestrial assets. Monroe praised the combination of Globalstar's resources and XCOM's technology, which he believes will unlock new opportunities and solutions for customers, ultimately benefiting long-term shareholders.

A Transformative Move for Globalstar

Dr. Jacobs' appointment as CEO of Globalstar, alongside the strategic licensing agreement with XCOM Labs, signals a transformative move for the company. With his rich history of innovation and leadership, Dr. Jacobs is well poised to steer Globalstar towards new heights of success and innovation. The expertise brought in by key XCOM executives further strengthens the company's capabilities, ensuring a bright future for Globalstar and its customers.

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