Cisco Systems Inc.'s (CSCO) Chief Strategy Officer Ned Hooper is leaving to form his own investment company and Chief Technology Officer Padmasree Warrior will move up, adding strategy to her responsibilities, CNBC reported Tuesday, citing a company blog post.
"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," chief executive John Chambers and Chief Operating Officer Gary Moore said in the statement. "Ned has a unique passion and skill for investment and strategy, and will focus on this in the next phase of his career."
Ms. Warrior's expanded role will include identifying customer and industry transitions, spending more time with external stakeholders and working on investments and acquisitions, the statement said.
Cisco also announced that Pankaj Patel will lead its engineering organization.
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(END) Dow Jones Newswires
June 26, 2012 13:51 ET (17:51 GMT)
Copyright (c) 2012 Dow Jones & Company, Inc.