Cisco has changed CEO
Cisco's Senior Vice President of Operations, Chuck Robbins, has been appointed the company's new CEO, replacing John Chambers, who has led Cisco for over 20 years. At the same time, he will retain the post of chairman of the board of directors of the company, and will also help his successor adapt to the new position.
“At a time when Cisco has a very strong market position, a very strong leader has been selected. It's a great time for Chuck Robbins to lead a company entering the new digital age, ” said John Chambers.
Chuck Robbins has been with Cisco since 1997. He began with the position of manager for working with large clients. Prior to joining Cisco, Robbins held various management positions at Bay Networks and Ascend Communications.
The new director is the main developer of the strategy to increase the commercial segment of Cisco's business, which now brings it about a quarter of all revenues. Under the direction of Robbins, acquisitions of Sourcefire and Meraki were made. In addition, he actively reformed the work of the Cisco sales team.
John Chambers startedwork in Cisco in 1991 as vice president and quickly climbed the career ladder, becoming CEO in 1995. Having led the company for 20 years, Chambers was one of the few CEOs in the high-tech sector in the United States who could remain on his post for so long.
During the leadership of John Chambers, Cisco has experienced tremendous growth. In the early 2000s, the company was the most expensive in the world with a market capitalization in excess of $ 550 billion, but after the dot-com boom ended, Cisco cost fell sharply and now stands at about $ 149 billion. Against the background of the announcement of a change in general director, the company's shares on Monday rose in price by 4% to $ 29.17.