Semiconductor giant Qualcomm (QCOM) - Get QUALCOMM Incorporated Report announced Friday that its President Derek Aberle has chosen to leave the company, following 17 years with the chipmaker.

While serving as the company's president, Aberle worked to drive Qualcomm's comprehensive global strategy and vision as a member of the company's Executive Committee, Qualcomm said.

Aberle's depature is effective December 31.

TheStreet Recommends

Qualcomm CEO Steve Mollenkopf thanked Aberle for his "dedication" to the company, adding "under his talented leadership, the QTL division has significantly grown in both revenues and profits, established its 4G licensing program and enabled significant competition across the industry."

As part of the announced changes, Executive VP and QTL President Alex Rogers will step in and report directly to Mollenkopf.

Shares of Qualcomm were lower in midday trading on Friday. 

More of What's Trending on TheStreet: