May 19, 2020

Cisco CEO says investors are disappointed

Cloud Computing
John Chambers
Gary Moore
Bizclik Editor
2 min
Cisco CEO says investors are disappointed

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.

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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.

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