Cisco CEO Chambers to step down, Robbins named successor
SAN JOSE, Calif. (AP) — John Chambers plans to step down as the CEO of Cisco Systems Inc. in July.
The computer networking company named Chuck Robbins as Chambers' successor. He will take over the post on July 26, at which point Chambers will become executive chairman.
Chambers, who had served as CEO since January 1995, will continue to serve as board chairman.
Robbins has worked at Cisco for 17 years. He most recently served as Cisco's senior vice president of worldwide operations.
The San Jose, California-based company's stock gained 10 cents to $29.23 in Monday morning trading.