Former Cisco CEO John Chambers (John Chambers) decided to leave the company.

Chambers led Cisco from 1995 to 2015. During this time, the company's annual revenue jumped from $ 1.2 billion to $ 50 billion. True, since 2010, revenues have increased by less than 10%, which is due to a drop in demand for traditional network equipment.

In 2015, John Chambers lost to Chuck Robbins (Chuck Robbins) position of Cisco CEO. Now the same thing happened with regard to the post of chairman of the board of directors of the company on which Chambers was in 1993.

"It's time for Cisco to move on to a new generation of leadership, including at the board and chairman level, and took the right position to work in the future. I also need to move on to a new chapter of my life, both on the personal front and on the workers, "wrote John Chambers in a letter to the company's board of directors.

Chambers' decision to leave Cisco slightly affected the company's quotes. On Monday, September 18, they rose by only 0.25% relative to the previous trading session. Since early 2017, the shares of the American vendor have risen in price by 7%.