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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
TechCisco Systems

Cisco’s new CEO just named his leadership team

Barb Darrow
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Barb Darrow
Barb Darrow
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Barb Darrow
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Barb Darrow
Barb Darrow
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June 4, 2015, 10:06 AM ET
Chuck Robbins
In this Friday, May 1, 2015 photo provided by Cisco Systems Inc., newly named CEO Chuck Robbins poses for a photo in San Jose, Calif. Current CEO John Chambers plans to step down after more than 20 years as CEO, the company announced Monday, May 4, 2015. Robbins will take over the post on July 26. (AP Photo/Cisco Systems Inc., Paul Sakuma)Photograph by Paul Sakuma — Cisco Systems Inc./AP
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Yes, revolving doors work both ways. Cisco just named the brand new management team for incoming CEO Chuck Robbins. He takes the helm officially on July 25, stepping in for long-time CEO John Chambers, who will remain as executive chairman of the networking giant.

Gary Moore, president and chief operating officer, and Rob Lloyd, president of development and sales, are on their way out.

So who are the new bosses?

  • Pankaj Patel, executive vice president and chief development officer
  • Kelly Kramer, executive vice president and chief financial officer
  • Rebecca Jacoby, senior vice president of operations
  • Framcome Katsoudas, senior vice president, chief people officer
  • Hilton Romanski, senior vice president and chief technology and strategy officer
  • Karen Walker, senior vice president, chief marketing officer
  • Chris Dedicoat, senior vice president, worldwide sales

News leaked earlier this week that chief technology officer Padmasree Warrior is leaving, although the official word now is that she will stay on as a strategic advisor through the transition.

These changes come at a crucial time for Cisco, which has built its reputation supplying name-brand (and pricy) networking gear for business customers. The company faces a dual threat as other tech vendors offer cheaper “white box” systems while others, including erstwhile partners like VMware (VMW) , move into software-defined networking.

 

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