BULLETIN - Cisco's Giancarlo resigns

Cisco Systems Chief Development Officer and Executive Vice President Charles Giancarlo has resigned, the company announced Thursday.

The 14-year Cisco veteran, who was widely seen as a likely candidate to replace Chairman and CEO John Chambers, left to pursue new professional opportunities, the company said in a statement.

A Development Council of seven technology leaders, which was organized earlier this month under Giancarlo's leadership, will drive Cisco's development efforts, the company said.

(More to follow.)

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