Cisco CEO says investors are disappointed

By Bizclik Editor

Written By: Admin

Employees, stakeholders and customers across the world are all looking at Cisco CEO for change and a better experience. In a statement earlier this week, CEO John Chambers says that Cisco has “disappointed our investors and confused our employees,” in relation to the company’s weak performance and sluggish sales growth in recent times. Chambers sent out a memo to employees on Monday and also posted the message on the company’s blog about how the international business has lost some credibility and needs better efficiencies for more discipline.

In order to stay on track, Chambers wants to focus the business on five key priorities: routing, switching and services; collaboration; data center visualization and the cloud; architecture; and video. In doing so, Chambers wants to make for better efficiencies for employees and make for a better customer and partner experience. Cisco’s new COO, Gary Moore, will also be part of this initiative.

See top stories in the WDM Content Network:
Top 10 Biggest Brands
Top Celebrity Endorsement Flops 
• Click here to read the latest edition of Business Review USA

In his message, Chamber writes:

“We are a $40B company that for the last decade has seen a virtual explosion in market opportunity. The Internet has taken on an entirely new form– and our growth strategy has been based on capturing the incredible opportunity afforded by this massive demand for the network. Many say that in the face of this expansion, Cisco needs more discipline. I agree.”

“That said, today we face a simple truth: we have disappointed our investors and we have confused our employees. Bottom line, we have lost some of the credibility that is foundational to Cisco’s success – and we must earn it back. Our market is in transition, and our company is in transition. And the time is right to define this transition for ourselves and our industry. I understand this. It’s time for focus.”

For the full message, click here.


Featured Articles

Amelia DeLuca, CSO at Delta Air Lines on Female Leadership

Driving decarbonisation at Delta Air Lines, Chief Sustainability Officer Amelia DeLuca discusses the rise of the CSO and value of more women in leadership

Liz Elting – Driving Equality & Building Billion-$ Business

Founder and CEO Liz Elting Turned Her Passion into Purpose and Created a Billion-Dollar Business While Fighting for Workplace Equality – and Winning

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

Technology & AI

Mastercard: Supporting clients at a time of rapid evolution

Digital Strategy

Why Ceridian has boldly rebranded to Dayforce

Human Capital