SAN JOSE, Calif. -- Cisco (NASDAQ: CSCO)
today announced that Frank A. Calderoni has been appointed executive
vice president and chief financial officer, effective Feb. 15, 2008.
Calderoni will succeed Dennis Powell, 60, who will retire after
serving over 11 years with Cisco. Calderoni, 50, will report to Cisco
Chairman and Chief Executive Officer, John Chambers.
"Dennis Powell has been a true partner, a great friend and a
world-class financial leader whose time at Cisco serves as an example
of financial transparency and operational excellence," said Chambers.
"Frank was a natural choice as Dennis' successor after serving as
senior vice president of Customer Solutions Finance at Cisco and as
Chief Financial Officer at two public companies. His proven
leadership ability, combined with extensive management and financial
experience, will be instrumental as we drive toward Cisco's
long-term, global strategic initiatives."
"I'm honored to expand my position on Cisco's executive team as chief
financial officer for a world-class organization," said Calderoni.
"As CFO, I will continue Cisco's commitment to maximizing value for
our shareholders with the unparalleled financial integrity Cisco is
known for."
Cisco Systems Inc.
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