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IBM International Business Machines Corp

166.29
1.60 (0.97%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
International Business Machines Corp NYSE:IBM NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  1.60 0.97% 166.29 166.61 164.92 165.00 3,386,067 01:00:00

Cisco Recruits Two Outsiders as Executives

27/07/2015 5:43pm

Dow Jones News


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By Don Clark 

Cisco Systems Inc.'s new chief executive marked his first day in the job by naming two outsiders to high-profile management posts.

Chuck Robbins, who assumed the CEO role at the networking equipment maker Monday after John Chambers' ended his tenure after 20 years, said in a blog post that Zorawar Biri Singh will serve as senior vice president and chief technology officer. He joins Cisco from Khosla Ventures, a Silicon Valley venture-capital firm, but has held prior positions at technology companies that include Hewlett-Packard Co. and International Business Machines Corp.

Mr. Robbins said Kevin Bandy will serve as senior vice president and chief digital officer, a job that includes helping Cisco customers change their businesses to incorporate new technologies and services. He joins Cisco from Salesforce.com Inc.

"In the digital world, data--and the insights from that data--will be the most strategic asset," Mr. Robbins wrote. "The ability to secure, aggregate, automate, and draw insights from the data--with speed--will ultimately define success."

Mr. Robbins, whose appointment was announced in May, has already taken other steps to put his mark on the leadership ranks of the San Jose, Calif., company. He announced a management structure in early June that excluded three longtime executives, all of whom are leaving the company. Two presidents, Gary Moore and Rob Lloyd, are also leaving the company.

A key goal, Mr. Robbins has said, is to give Cisco a flatter executive structure that can make decisions more quickly.

Mr. Robbins, who is 49 years old and has worked at Cisco 17 years, has also moved to discontinue businesses that aren't central to the company's strategy.

Cisco said Friday that it will stop selling data-storage hardware, a business it entered with its $415 million acquisition of the Whiptail in 2013. The company also said last week that Technicolor SA had agreed to pay about $600 million to buy Cisco's TV set-top business, a major part of a $6.9 billion acquisition completed in 2006.

Mr. Chambers, who is 65, remains chairman. The company plans to celebrate his tenure and the appointment of Mr. Robbins at an event Monday at the San Francisco 49ers' football stadium in Santa Clara, Calif.

Write to Don Clark at don.clark@wsj.com

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