April 2011: Chambers' Call To Action
In retrospect, it was one of the most dramatic moments in Cisco's recent history: Chairman and CEO John Chambers penned a nearly 1,500-word memo indicating that Cisco had disappointed investors, confused its employees and lost credibility in the market. It also was the moment when Cisco's painful, lengthy restructuring effort began in earnest. Chambers promised a "number of targeted moves in the coming weeks" to right the ship, and nearly 12 months later, Cisco is thousands of employees lighter, less focused on "adjacencies" and more focused on core market priorities. It also has won over skeptical solution providers worried that Cisco had gotten terminally distracted with too many priorities and too much time mired in bureaucracy.