Cisco’s former chief executive announces he will not stand for re-election when his term as chairman expires in December
Former Cisco CEO John Chambers will stand down from his post as executive chairman of the company later this year and will be replaced by current chief executive Chuck Robbins, the equipment maker announced on Monday.
Chambers, who served as CEO of Cisco for 20 years until he retired in mid-2015 and took the title of executive chairman, will not seek re-election when his term expires on 11 December, the firm said.
Robbins replaced him as CEO and will now take on the executive chairman role too.
Chambers, meanwhile, will be granted the honorary title of chairman emeritus.
Carol Bartz, lead independent director on the Cisco board, paid tribute to Chambers for his influence on the company.
"At the right time, he initiated and brought to fruition a CEO succession process that resulted in the right person, Chuck Robbins, leading the company into the future," she said. "We owe John a debt of great gratitude for his extraordinary service to Cisco."
In total, Chambers spent 26 years at Cisco, having joined the firm as its head of sales in 1991.
During the 20 years he spent as CEO, Cisco grew revenues to close to US$50 billion annually from $1.2 billion, the company said.
"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," said Robbins.
"I have no doubt he will continue to have a lasting impact with his future endeavours," he added.