SAN JOSE, Calif.-
John Chambers, CEO of Cisco Systems Inc. (CSCO), told staff via an internal memo that has since been published, that the consumer electronics, networking, voice, and communications technology and services company needs to combat problems with “operational execution,” and that Cisco has been “slow to make decisions.”
Chambers also wrote that the company has lost credibility, “disappointed” investors, “confused” employees and that it’s time to make “bold steps and tough decisions.”
The Santa, Clara, Calif.-based company also has two offices in Austin. The note by Chambers came after a class-action lawsuit was announced last week against Cisco that alleges the company failed to disclose all information concerning the true financial situation of the networking giant from the dates between May 12, 2010 and Feb. 9, 2011.
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