Cisco promotes two key executives

Cisco Systems Inc. hasn't had a president since CEO John Chambers gave up the title in 2006. Now, as the company thinks about a successor to the long-serving CEO, it's appointing two presidents twice the number most companies have.

The maker of computer networking gear said Thursday that Rob Lloyd, 56, formerly the executive vice president in charge of worldwide sales, is now a president in charge of both product development and sales.

Cisco also promoted executive vice president Gary Moore, 63, to president and chief operating officer.

Chuck Robbins, formerly the senior vice president for Americas sales, takes over Lloyd's job as global sales head.

The San Jose, Calif., company said the reason it's uniting sales and development under Lloyd is that it wants to tie product development closer to customer needs. Pankaj Patel, the chief development officer, will now report to Lloyd, as will Wim Elfrink, the chief globalization officer.

Spokesman John Earnhardt said the company's focus on "senior leadership evolution" over the next two to four years was a factor in the shuffle. The CEO's job is included in that "evolution," he said.

Chambers, 63, is a former sales executive and has been the CEO at Cisco since 1995, making him one of the veterans of Silicon Valley and a subject of succession speculation. He gave up the title of president in 2006 to become chairman.