Cisco adds Benioff, Johnson to board of directors

Cisco Systems (Nasdaq: CSCO) on Thursday named Marc Benioff, co-founder and chief executive officer of Inc., and Kristina Johnson, CEO of Enduring Hydro LLC, to its board.

With the addition of Benioff and Johnson, Cisco said it now has 14 directors on its board.

The vendor has been struggling to regain its footing in its core routing and switching market. As part of its ongoing reorganization process, Cisco said it would lay off 1,300 employees.

While Cisco decided to shed unprofitable businesses such as Flip Camera, it has been on a buying spree in recent months,with three notable acquisitions: customer premise equipment management software vendor ClearAccess, security software firm Virtuata, and the completion of its $5 billion acquisition of video software vendor NDS.

Chambers said in May that a series of issues, including Europe's debt crisis, low government spending and slow enterprise sales contributed to a Q4 profit forecast that fell below analyst expectations.   

Cisco will report its fiscal fourth-quarter financial results Aug. 15.

For more:
- see the release
- Bloomberg has this article

Special Report: Wireline in the second quarter of 2012

Related articles:
Cisco to lay off 1,300 workers
Cisco acquires Virtuata, beefs up cloud, data center capabilities
Cable and fiber broadband CPE grew 2.5% in 2011, says ABI Research
Cisco Systems tops IP set-top box survey by Infonetics

Suggested Articles

Tech Mahindra announced on Tuesday the launch of a dedicated Google Cloud Center of Excellence to help drive enterprises' digital transformations.

Juniper's enterprise and cloud divisions carried the day during the company's Monday earnings, which offset weakness in the service provider sector.

Arista Networks beat out some big names in its deal to buy Big Switch Networks, which came to light last week.