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Cisco strategy head Hooper leaves to start fund
Question of the Day
NEW YORK (AP) - Cisco Systems Inc.’s chief strategy officer, who was responsible for scouting for acquisition opportunities, has left for an investment fund, the company said Tuesday.
Ned Hooper had been on the short list of possible successors to CEO John Chambers when talk swirled last year of Chambers stepping down. However, Cisco’s results have improved after a rough patch, and speculation about Chambers‘ departure has died down.
Before becoming chief strategy officer in 2009, Hooper was the head of Cisco Systems Inc.’s consumer business. Altogether, he spent 13 years with Cisco, and was the driving force behind the acquisitions of Tandberg, WebEx, Starent and Pure Digital.
Tandberg and WebEx shored up Cisco’s teleconferencing business, and Starent strengthened its portfolio of products for cellphone companies. But the acquisition of Pure Digital, which made the Flip Video camcorders, ended badly, as Cisco shut the division down just two years after buying it.
Warrior, 51, had been leading Cisco’s engineering organization together with Pankaj Patel, another senior vice president. As she assumes responsibility for strategy, she will yield control of engineering to Patel, Cisco said.
Shares of Cisco, based in San Jose, Calif., was unchanged at $16.93 in afternoon trading.
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