Cisco Systems, Inc.
Cisco Systems Announces Board Member Departure and Appointment
Summary
On March 31, 2026, Daniel H. Schulman notified Cisco Systems, Inc. of his decision to resign from the Board of Directors effective May 21, 2026, due to his new role as Chief Executive Officer of Verizon Communications Inc. On April 4, 2026, the Board appointed Peter A. Shimer as a new member, effective April 6, 2026. Mr. Shimer, deemed 'independent' under Nasdaq listing standards, will also serve on the Audit Committee. His compensation includes a pro rata annual cash retainer, equity award, and participation in Cisco's charitable matching gifts program. He has also entered into an Indemnity Agreement with Cisco.
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About Cisco Systems, Inc.
Cisco Systems, Inc. is a global leader in networking and IT. The company's core business is to design and sell a range of technologies that power the internet. Cisco is renowned for its routers, switches, cybersecurity solutions, and wireless systems, which serve as the backbone for digital communication networks worldwide. The company's products and solutions are crucial for the seamless operation of data centers, enterprise networks, and telecommunication infrastructures. Cisco Systems, Inc. plays a pivotal role in connecting businesses, governments, and individuals across multiple sectors, fostering the growth of cloud computing, IoT (Internet of Things), and remote work capabilities. With a focus on innovation and sustainability, Cisco continuously develops new technologies to enhance network performance and security. Based in San Jose, California, and founded in 1984, Cisco is a respected pioneer in its field, significantly contributing to the digital transformation initiatives of organizations globally. Its expansive reach and comprehensive portfolio make it a fundamental entity in shaping how we connect and communicate.
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