Wednesday, September 26, 2012

Cisco Systems, Inc. (NASDAQ:CSCO)’s Chambers hints at Retirement

John Chambers, the Chief Executive of Cisco Systems, Inc.(NASDAQ:CSCO), is thinking of retirement and looking around for a possible successor, Bloomberg said on Tuesday.

In an interview to the news agency, Chambers, who has been the CEO of the U.S. network company for 17 years now, said that he expected to retire in the next two to four years and tossed out some names who could lead the company after him.

While it is still not very definite whether he would actually retire - after all he is still talking about two to four years into the future - he said that he had discussed with the boar about his possible successors.

The names that have been talked about are Robert Lloyd, executive vice president of worldwide operations, Chuck Robbins, senior vice president of the Americas, and Edzard Overbeek, senior vice president of global services.

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Cisco, which was once the darling of the stock markets, has been supplanted by other more nimble companies, especially from China. Companies like Huawei have successfully eaten into Cisco's share of the market, especially in the developing world.

However its shares recently saw an uptick as the company has been revamping itself to address the IT needs of a fast-changing environment.

Bloomberg said that of all the names mentioned the most "interesting might be Overbeek who has overseen Cisco’s Asia Pacific, Japan and Greater China region in a previous role."

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