Cisco CEO: ‘No Excuses’
Cisco CEO John Chambers last week wrote a candid and public admission about the company’s recent struggles, many of which have done their fair share of damage to the stock price.
Chambers’ note was interesting in that it was refreshingly honest: a mea culpa taking full responsibility for the company’s performance.
That said, today we face a simple truth: we have disappointed our investors and we have confused our employees. Bottom line, we have lost some of the credibility that is foundational to Cisco’s success – and we must earn it back. Our market is in transition, and our company is in transition. And the time is right to define this transition for ourselves and our industry. I understand this. It’s time for focus.
The entire thing is a model for how CEOs should demonstrate leadership and the value of taking personal accountability. Read the full letter here.
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