InterDigital Announces Leadership Transition

William J. Merritt to Retire After 25 Years at the Company

Liren Chen Appointed President and CEO

WILMINGTON, Del., March 16, 2021 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology research and development company, today announced that William J. Merritt will retire effective April 5, 2021, after 25 years at the company and nearly 16 years as President and CEO. Mr. Merritt will also step down from the company’s Board of Directors. InterDigital announced the appointment of industry veteran Liren Chen as the company’s next President and CEO effective April 5, 2021. Mr. Chen will also be appointed to the InterDigital Board as a director. Mr. Merritt has agreed to provide certain consulting services in order to facilitate an orderly transition.

“There is no question that Bill’s leadership has been outstanding and the Board thanks him for his years of great contributions as he looks forward to the next chapter in his life. After a thoughtful and thorough search process, the Board of Directors determined that Liren Chen’s proven expertise and leadership skills make him the best CEO to lead InterDigital forward,” said S. Douglas Hutcheson, Chairman of the Board. “Liren’s tenured and successful career at one of the world’s most innovative technology companies speaks for itself. His years of IP licensing, global business expertise, and technical capabilities are a unique combination that aligns perfectly with InterDigital’s opportunities. The Board is pleased that he has agreed to take the helm at a time of great opportunity for InterDigital, and we look forward to working with Liren to build on our company’s strong momentum.”

Mr. Chen joins InterDigital from industry leader Qualcomm, where he was Senior Vice President and Global Head of IP, Legal Counsel. He is an accomplished senior executive, who brings more than 25 years of industry experience in the areas of greatest importance to the company. He has a deep understanding of the legal, business and industry environments that affect the development of technology and IP licensing worldwide, and has been extensively involved in rolling out 4G and 5G license programs with the top mobile phone manufacturers around the world. As an established expert in global IP strategy, Mr. Chen has successfully developed, implemented and defended IP licensing throughout his career. He is also a successful innovator and is co-inventor on more than 120 patents worldwide.