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Cisco strategy chief departs

by Olaf de Senerpont Domis  |  Published June 26, 2012 at 3:29 PM
Cisco_227x128.jpgCisco Systems Inc. chief strategy officer Ned Hooper, who has overseen some of the networking giant's largest acquisitions, is leaving the company to form an investment company.

Under the executive changes, which were announced Tuesday, June 26, in a blog penned by CEO John Chambers and chief operating officer Gary Moore, Cisco chief technology officer Padmasree Warrior will take on the strategy role vacated by Hooper, who joined the company 13 years ago via its acquisition of Lightspeed International. His business development team will report to Warrior.

Cisco said Hooper plans to become principal investor in an "independent investment partnership company." Hooper apparently will maintain close ties to Cisco, Chambers and Moore said.

"Ned has been working on his plan with us over a number of months, and we look forward to partnering with him in his new endeavor," the blog said. "Ned has a unique passion and skill for investment and strategy, and will focus on this in the next phase of his career."

Cisco credits Hooper with pioneering the model for big-ticket M&A at the company, having shepherded its $3.3 billion purchase of video conferencing company Tandberg in 2010 and the $5 billion acquisition of NDS Group Ltd., which was announced in March.

Cisco watchers did not view the management moves as driven by a strategy change or market concerns.

"While we favor stability in the leadership ranks, we do not believe these changes were motivated by new execution/competitive challenges or strategic shifts," ISI Group analyst Brian Marshall wrote in a note Tuesday. Marshall said the move will consolidate responsibility for engineering, technology vision and strategy under two executives instead of three.

Cisco also said that senior vice president Pankaj Patel will take the reins of the company's engineering organization.


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Tags: Cisco | Corporate Development | Ned Hooper | restructuring

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