Cisco Appoints COO to Improve Efficiency

Feb 22 (Reuters) – Network equipment maker Cisco
Systems Inc (NASDAQ:CSCO) created a new executive role aimed at
improving operations, after disappointing investors with weak
forecasts and declining margins in recent quarters.

Cisco named Executive Vice President Gary Moore, who
previously ran its services business, as Chief Operating
Officer. Moore will now be responsible for making sure the
company’s various segments such as engineering, marketing, and
services, run efficiently, it said on Tuesday.

Earlier this month, Cisco reported a weaker-than-expected
outlook and a decline in gross margin to 62.4 percent from the
previous quarter’s 64.3 percent.

Cisco has expanded beyond its traditional routing and
switching business in the last several years in an effort to
keep up revenue growth. But some analysts say it may have
spread itself too thinly, making it more vulnerable to
competition and pricing pressure.
(Reporting by Ritsuko Ando; editing by Gunna Dickson)