Cisco Appoints Not One, but Two Presidents

It's grooming an eventual successor for CEO John Chambers

   

Cisco Appoints Not One, but Two Presidents

Cisco (NASDAQ:CSCO) has tapped two insiders as president of the company, in a move likely to generate new speculation about who is leading in the horse race to succeed current CEO John Chambers.

The new presidents are tasked with slightly different roles. Rob Lloyd, who had been executive vice president for worldwide operations, will now be president, development and sales, while Gary Moore, has been named president and chief operating officer, Computer Reseller News noted.

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A Hot Quarter for Tech

Chambers, now 63-years-old, is moving closer to retirement. He recently said the company has a list of as many as 10 candidates to replace him. He also indicated that the next CEO was likely to come from within the company.

Chambers had previously named Moore as the most likely person to succeed him in an emergency. In addition to Lloyd and Moore, other Cisco executives under consideration include Senior Vice President of Global Services Edzard Overbeek and Chuck Robbins, who will succeed Lloyd as senior vice president of worldwide operations.

Shares of Cisco rose fractionally in Tuesday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/cisco-appoints-not-one-but-two-presidents/.

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