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Cisco's Executive Chairman John Chambers Not To Stand For Re-Election

Cisco (CSCO) said that Executive Chairman John Chambers has notified the Board of Directors that he will not stand for re-election to the board of directors in December.

The Board plans to appoint Cisco CEO Chuck Robbins to serve as chairman when Chambers' term expires at the annual meeting of shareholders on December 11, 2017. At that time, John will also be given the honorary title of Chairman Emeritus.

Chuck Robbins assumed the role as Cisco CEO on July 26, 2015. At the Annual Meeting, the Cisco Board is expected to reduce the size of the Board to eleven members, ten of whom will be independent directors.

by RTT Staff Writer

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