Cisco veteran Hooper leaves company

Reuters News
Posted: Jun 26, 2012 1:22 PM
Cisco veteran Hooper leaves company

(Reuters) - Cisco Systems Inc's chief strategy officer Ned Hooper is leaving the company and will be replaced by chief technology officer Padmasree Warrior, the company said Tuesday on its website.

Hooper had been with Cisco for 13 years. Warrior, who joined Cisco in 2007, will remain CTO in addition to her new role.

The networking equipment maker, which Chief Executive John Chambers a year ago admitted had "lost its way" after several quarters of sub-par growth, has been challenged by rivals such as Hewlett-Packard Co and Juniper Networks in recent quarters.

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Cisco's shares fell 10 cents or 0.6 percent to $16.83 on Tuesday.

(Reporting By Liana B. Baker)