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2nd Possible CEO Successor Quits Cisco

A leadership team will replace Charles Giancarlo

By Laila Weir,  Newser User

Posted Dec 21, 2007 11:40 AM CST

(Newser) – Charles Giancarlo, chief development officer and exec VP of Cisco, will leave the company after 14 years, in the networking giant's second major departure of 2007. Giancarlo, who was seen as a possible successor to CEO John Chambers, will become managing director of private equity firm Silver Lake in January, reports PC World.

A seven-person development council will take over Giancarlo's responsibilities, in line with the company's moves away from top-down management. Chambers feels  the company moves faster under such teams. Cisco's first 2007 departure was the February resignation of Michelangelo Volpi, who headed the company's routing and service provider businesses. Volpi had also been seen as a possible candidate to lead the company.

A Cisco iPhone is shown at Cisco headquarters in San Jose, Calif., Monday, Nov. 5, 2007.  (AP Photo/Paul Sakuma)
A Cisco iPhone is shown at Cisco headquarters in San Jose, Calif., Monday, Nov. 5, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
Charlie Giancarlo poses inside of Cisco's video conferencing center at Cisco headquarters in San Jose, Calif., in this Jan. 11, 2007 file photo. Giancarlo, Cisco Systems Inc.'s chief development officer and heir-apparent to CEO John Chambers, resigned Thursday, Dec. 20, 2007 to join the investment firm Silver Lake Partners....
Charlie Giancarlo poses inside of Cisco's video conferencing center at Cisco headquarters in San Jose, Calif., in this Jan. 11, 2007 file photo. Giancarlo, Cisco Systems Inc.'s chief development officer...   (Associated Press)
A sign in the lobby of Cisco headquarters in San Jose, Calif. is seen Monday, Nov. 5, 2007. (AP Photo/Paul Sakuma)
A sign in the lobby of Cisco headquarters in San Jose, Calif. is seen Monday, Nov. 5, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
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