The exodus of senior management at Cisco Systems (CSCO) continues. Today, Chief Development Officer Charlie Giancarlo and the #2 man at Cisco resigned. He is joining buyout shop, Silver Lake Partners. He was amongst the trusted lieutenants of CEO John Chambers, but like many others before him faced the prospect of being the crown prince for a long long time. Earlier Mike Volpi, long thought to be a CEO candidate, left Cisco and took over the reigns at P2P TV company, Joost.
Giancarlo, one of my favorite Cisco executives, was company’s first Vice President of Business Development, and helped build company’s merger and acquisition strategy, playing a big role in Cisco’s first 18 acquisitions and 20 investments. He joined the company when Cisco acquired Kalpana. That was back in the day. His most recent success was Linksys, which he helped integrate into Cisco. The rumors of Charlie’s exit have been doing the rounds for past couple of days.