Cisco's Executive Leadership Turnover Continues
However, he said there seems to be something of a "generational shift" going on within the industry, noting that Chambers is not the only longtime CEO stepping down. King pointed to Larry Ellison in September 2014 stepping down as Oracle's CEO—though he is still very much involved with the company as its chairman and CTO—and discussions EMC CEO Joe Tucci has had with his company's board of directors about his tenure. "This is all coming at a time where traditional IT is under fire from a number of positions," the analyst said. "It's important for even the most established and successful company … to have someone in leadership who knows not just where the market is, but where the market's going." Cisco's Robbins noted the need to keep ahead of the changes in the industry. The new executive leaders "have the capabilities, accomplishments, and the values required to lead us into the future. Their combined vision, passion and authenticity, along with a focus on strategy, results, and innovation truly differentiate this team." Among those new leaders is Pankaj Patel, who is executive vice president of development, who will continue to lead the 25,000 development engineers and oversee Cisco's $36 billion technology portfolio, and Rebecca Jacoby, who had been CIO and is now senior vice president for operations. Hilton Romanski, senior vice president and head of business development, will replace Warrior as Cisco's chief technology and strategy officer.Ruba Borno, who is joining Cisco from the Boston Consulting Group, is the vice president of growth initiatives and chief of staff. Wim Elfrink, who is Cisco's chief globalization officer, will retire July 25. Warrior will stay during the transition until September, while Overbeek also will stay through the transition for a year.
Joe Cozzolino will replace Overbeek as senior vice president of services. Other new appointments are Kelly Kramer as executive vice president and CFO, Francine Katsoudas as senior vice president and chief people officer, Chris Dedicoat as senior vice president of worldwide sales, Karen Walker as senior vice president and chief marketing officer, and Mark Chandler as senior vice president and general counsel.