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John Chambers exits Cisco

by on19 September 2017


Longest serving big-tech CEO


Cisco Systems had announced that its Executive Chairman John Chambers would not seek re-election after his term expires in December.

Chambers, who lead the networking gear maker for two decades as its chief executive, became the executive chairman in July 2015.

As one of Silicon Valley’s longest-running chief executives, Mr Chambers joined Cisco in 1991 as head of sales and served as CEO from 1995-2015. During his tenure, he built Cisco from a small maker of internet routers with sales of $1.2 billion into the world’s biggest networking equipment company, with revenue of nearly $50 billion.

Chuck Robbins, the current chief executive, will take over as chairman. Robbins said in a statement that Chambers brilliant mind, compassion and charismatic leadership have helped shape Cisco for over 20 years, and for that the company is grateful.

“John’s influence on the industry is immense and he built Cisco around a culture of integrity and innovation that will continue to serve our employees, partners and customers for decades to come. I have no doubt he will continue to have a lasting impact with his future endeavours.”

Chambers, 68, will be given the honorary title of Chairman Emeritus at the company’s annual shareholder meeting in December.

Robbins has been busily revamping Cisco, shifting it toward cloud software and away from an eroding computer network equipment market, the market that Cisco still dominates. Because Robbins is already leading a new strategy and appointed many of his own people when he took over, investors are treating this news as a bit of a yawn.

 

Last modified on 19 September 2017
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