John T. Chambers was designated to succeed John P. Morgridge as chairman of Cisco Systems, effective at the company’s annual shareholder meeting on November 15, 2006. Chambers will retain his position as CEO.
John Morgridge has served Cisco for over approximately 18 years, initially as CEO, and appointed to chairman of board in 1995. He steered the company through multiple corporate milestones, including its initial public filing in 1990, and helped set the culture of Cisco; one of innovation, empowerment, frugality and giving back.
John Chambers has been president and CEO of Cisco Systems since January 1995. Since that time, Chambers has grown the company from approximately $1.2 billion in annual revenues to approximately $24.8 billion for fiscal year 2005, with market cap growth from approximately $10.4 billion in 1995 to approximately $121 billion today. Chambers joined Cisco in 1991 as senior vice president, Worldwide Sales and Operations. Prior to joining Cisco, he spent eight years at Wang Laboratories and six years with IBM.
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