Apple partner Globalstar taps former Qualcomm executive Paul Jacobs as CEO

Globalstar on Tuesday named former Qualcomm top boss Paul Jacobs as its CEO, sparking a near 20% surge in the shares of the satellite firm behind Apple’s emergency communication services.

Jacobs, 60, is also a board member of IPO-bound chip firm Arm and will replace David Kagan, who is retiring after about 5 years as CEO.