Cisco Systems Board Shake-up: Two Depart, Two New Directors Elected
Ticker: CSCO · Form: 8-K · Filed: 2024-07-19T00:00:00.000Z
Sentiment: neutral
Topics: board-changes, governance
Related Tickers: CSCO
TL;DR
Cisco board sees turnover: Chandler & Burns out, Martinez & Ramsey in.
AI Summary
On July 15, 2024, Cisco Systems, Inc. announced the departure of two board members, Mark Chandler and M. Michele Burns. The company also elected two new directors, Maria Martinez and Michael D. Ramsey, to its board. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in strategic direction or governance oversight for Cisco Systems.
Risk Assessment
Risk Level: low — This filing reports routine board changes and does not involve financial distress or significant operational shifts.
Key Players & Entities
- CISCO SYSTEMS, INC. (company) — Registrant
- Mark Chandler (person) — Departing Director
- M. Michele Burns (person) — Departing Director
- Maria Martinez (person) — Newly Elected Director
- Michael D. Ramsey (person) — Newly Elected Director
- July 15, 2024 (date) — Date of earliest event reported
FAQ
Who are the departing directors of Cisco Systems?
Mark Chandler and M. Michele Burns have departed from the board of directors of Cisco Systems.
Who are the newly elected directors of Cisco Systems?
Maria Martinez and Michael D. Ramsey have been elected as new directors to the board of Cisco Systems.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on July 15, 2024.
What is the exact name of the registrant?
The exact name of the registrant is CISCO SYSTEMS, INC.
What is the principal executive office address for Cisco Systems?
The principal executive office address for Cisco Systems is 170 West Tasman Drive, San Jose, California 95134-1706.
From the Filing
0000858877-24-000012.txt : 20240719 0000858877-24-000012.hdr.sgml : 20240719 20240719160449 ACCESSION NUMBER: 0000858877-24-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240715 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240719 DATE AS OF CHANGE: 20240719 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CISCO SYSTEMS, INC. CENTRAL INDEX KEY: 0000858877 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] ORGANIZATION NAME: 06 Technology IRS NUMBER: 770059951 STATE OF INCORPORATION: DE FISCAL YEAR END: 0727 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39940 FILM NUMBER: 241127839 BUSINESS ADDRESS: STREET 1: 170 WEST TASMAN DR CITY: SAN JOSE STATE: CA ZIP: 95134-1706 BUSINESS PHONE: 4085264000 MAIL ADDRESS: STREET 1: 170 WEST TASMAN DR CITY: SAN JOSE STATE: CA ZIP: 95134-1706 FORMER COMPANY: FORMER CONFORMED NAME: CISCO SYSTEMS INC DATE OF NAME CHANGE: 19920703 8-K 1 csco-20240715.htm 8-K csco-20240715 false 0000858877 0000858877 2024-07-15 2024-07-15 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 8-K ___________________________________ CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 15, 2024 ___________________________________ CISCO SYSTEMS, INC. (Exact name of registrant as specified in its charter) ___________________________________ Delaware (State or other jurisdiction of incorporation) 001-39940 (Commission File Number) 77-0059951 (IRS Employer Identification No.) 170 West Tasman Drive , San Jose , California 95134-1706 (Address of principal executive offices) (Zip Code) ( 408 ) 526-4000 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) ___________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share CSCO The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐ Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Compensatory Arrangement of Certain Officer On July 15, 2024, Jeff Sharritts, former Executive Vice President and Chief Customer and Partner Officer of Cisco Systems, Inc. (“Cisco”), entered into a Separation Agreement and General Release (the “Separation Agreement”) in connection with his termin