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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Eric who wrote (74730)	12/20/2007 5:20:35 PM
From: Eric	Respond to of 77400

A little bit more info: UPDATE: Cisco Heir-Apparent Giancarlo Resigns Dec 20, 2007 16:51:16 (ET) (Updates throughout with conference call details.) SAN FRANCISCO (Dow Jones)--Charles Giancarlo, Cisco Systems Inc.'s (CSCO) chief development officer and the person considered most likely to replace CEO John Chambers, resigned Thursday to work for an investment firm. Also Thursday, Cisco said it has reorganized the research arm that Giancarlo led for the business computer network equipment maker. Giancarlo, 50 years old, said his decision to leave was in part because of his career's "biological clock" and his professional ambitions. Cisco's Chambers doesn't intend to step down for at least another three to five years. "Do the math," Giancarlo said on a conference call with journalists. "I'm 50. I now fully realize what is meant by the biological clock." Giancarlo joined Cisco in 1993 when it acquired switch maker Kalpana. He started Cisco's business development organization and had a large role in devising its acquisition strategy. He'll now be a senior partner at Menlo Park, Calif.-based Silver Lake Partners, which specializes in investments in major technology concerns. One of Giancarlo's last major chores at Cisco was to help realign the company's research and development arm. The new structure was unveiled on Thursday as well. Cisco's research division will now be led not by one person, as it was under Giancarlo's watch, but by a group of about seven "key technology leaders" within the company. Chambers said the group will "collectively" drive Cisco's development efforts that are key to its growth strategy. The so-called Development Council will report directly to Chambers. Cisco shares ended the day's trading up slightly to $28.28 a share. It was slightly higher in after-hours trading.