Cisco's

Chambers, who has been Cisco's CEO since 1995, called Cisco's strategy "sound" but criticized its execution.

Breaking News: CBS News 2011

The idea: As Cisco's core businesses slowed, managers were supposed to attack market "adjacencies" in order to hit Mr. Chambers' overoptimistic revenue-growth target of 12%-17%.

Cisco Investors Need a Switch Rolfe Winkler 2011

"We have disappointed our investors and we have confused our employees," Mr. Chambers, who has been Cisco's chief since 1995, told employees in a companywide email.

Chambers Vows 'Fix' as Cisco Stumbles Cari Tuna 2011

Cisco's portfolio "may have gotten too big," Mr. Modoff said.

Chambers Vows 'Fix' as Cisco Stumbles Cari Tuna 2011

It is aspects of our operational execution that are not, said Mr. Chambers, who has been Cisco's chief since 1995 and who rarely sends companywide communications in writing, preferring video missives instead.

Chambers Vows 'Fix' as Cisco Stumbles Cari Tuna 2011

More troubling, lost focus has led to a decline in Cisco's core switching business as more nimble rivals like Juniper Networks take share.

Cisco Investors Need a Switch Rolfe Winkler 2011

There are indicators of what Mr. Chambers has in mind: The head of Cisco's consumer business departed in February, suggesting businesses like Flip cameras and cable set-top boxes are poised for a shake-up.

Cisco Investors Need a Switch Rolfe Winkler 2011

The CEO said he and Mr. Moore would lead an effort to simplify Cisco's operations.

Chambers Vows 'Fix' as Cisco Stumbles Cari Tuna 2011

Ms. Chrapaty, who was senior vice president of Cisco's collaboration software group, is a veteran executive of Microsoft Corp. and ETrade Group Inc.

Zynga Taps Cisco Executive as Chief Information Officer Nick Wingfield 2011

Cisco's stock has slid more than 30% over the past 12 months, even as the Nasdaq Composite Index has risen 15%.

Chambers Vows 'Fix' as Cisco Stumbles Cari Tuna 2011