Kim Forrest and Wall Street Analysts

Kim Forrest: Wall Street analysts said a change was expected and could signal a refocusing of Cisco, which acquired dozens of companies under Chambers but has failed to make great headway outside its core networking business, according to Euro News. In many cases where the CEO has been very acquisitive, the next guy pares down and refocuses the company, and that is what I would be expecting with this change, said Kim Forrest, an analyst at Fort Pitt Capital Group in Pittsburgh. Company veteran Chuck Robbins, 49, will take over as CEO. The 65-year-old Chambers, one of the longest-serving leaders of a Silicon Valley company and also company chairman, will become executive chairman, the company said on Monday. Robbins did not immediately indicate where that focus would be. The market is moving too rapidly for any one individual to think they have all the answers. Over the next 90 days, I actually like to listen, he told reporters on a conference call. (news.financializer.com). As reported in the news.