Cisco Systems announced that the Chief Executive of the company, John Chambers who is responsible for the company’s development into an international networking power is going to become the executive chairman and in his place Chuck Robbins will become the CEO.
From 1995 onwards Chambers was CEO and board chair since 2006. He took charge of the company’s growth from a humble tech firm to a global tech giant and its annual revenue is around $50 billion. The company has taken full advantage of the growth of the Internet with its omnipresent routers, servers and switching systems as important units of the global connectivity.
This exponential growth was capped by the entity joining the prestigious 30 blue chip stocks of the Dow Jones Industrial Average in the year June 2009 and presently Cisco has a market valuation of $149 billion.
Robbins became a part of Cisco in 1997 and played a key role in developing company strategy including key acquisitions. He has also reinvented the company’s sales organizations and became the envy of the industry as a whole. According to Chambers this is the perfect time for Robbins to become the company’s CEO. The CEO needs to do well in a highly dynamic atmosphere and should be capable of accelerating what is going well and making changes wherever it is necessary.