Qualcomm Investors Reelect Director

Qualcomm Inc. shareholders reelected director Frank Savage, rejecting labor and pension group opposition to his role as a director of Enron Corp., the energy trader that filed the largest bankruptcy petition in U.S. history.

The vote was announced at the annual shareholder meeting in San Diego of the company that licenses patents for mobile phones. Savage and four other directors were reelected to three-year terms with more than 95% of the vote, Chief Executive Irwin Jacobs said.

The vote suggests connections to Enron won’t necessarily disqualify a director from serving on another company’s board. The California Public Employees’ Retirement System, which owns 3.45million Qualcomm shares, and the AFL-CIO labor federation were among groups opposing reelection of Savage, mainly because of his connection with Enron.

Savage, 63, was chairman of Alliance Capital Management International from 1993 to 2001.

Savage was not at the meeting, but he attended a board meeting Monday, Jacobs said.

Shares of Qualcomm fell 78 cents to close at $40.50 on Nasdaq.