Report: Cisco's Chambers might announce retirement in fall

|About: Cisco Systems, Inc. (CSCO)|By:, SA News Editor

Cisco (CSCO +0.1%) is hatching a major reorg that could include a retirement announcement from John Chambers as soon as September, "several sources close to the company" tell veteran industry journalist Scott Raynovich.

Chambers, 65, stated in 2012 he might retire in 2-4 years. Cisco's recent challenges, together with long-term concerns about the threats posed by white-label hardware and SDN, have heightened speculation Chambers might call it quits.

Sales chief Rob Lloyd and COO Gary B. Moore are seen as the frontrunners to succeed Chambers, after both were given the title of president in 2012.

The fact Cisco shares have largely been range-bound since 2004 (in spite of huge buybacks) has fueled criticism of Chambers' performance.