Cisco names new CEO

Cisco Systems on Monday named Charles Robbins its new CEO, the New York Times reports. Robbins replaces John Chambers, who led the company for 20 years.
 
Robbins served as senior vice president of worldwide operations for the company, which is the largest maker of networking equipment in the world, according to the report. Robbins will move into the CEO office at the end of July.
 
Chambers leaves Cisco, which he's led since 1995, at a time when leaders of other large tech firms are also stepping down and younger CEOs now taking over the tech industry, the report states.

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