Cisco Systems, Inc. Announces Resignation of Gary Daichendt

SAN JOSE, Calif., December 14, 2000 - Cisco Systems, Inc., the worldwide leader in networking for the Internet, today announced the resignation of Gary Daichendt, Executive Vice President of Cisco Worldwide Operations. Worldwide Sales and Manufacturing will continue to be lead by Senior Vice President of Worldwide Field Operations Group, Rick Justice, and Senior Vice President of Worldwide Manufacturing Operations Group, Carl Redfield, who will both report directly to Cisco President and CEO, John Chambers, effective December 18, 2000.

"Gary and I began discussing his next career move for a number of months and I am confident that the quality leadership team that Gary has developed for both Sales and Manufacturing will ensure a smooth transition and positive momentum for our customers, employees, partners and suppliers," said Chambers. "While evaluating his future professional opportunities, Gary has chosen to spend some time with his family. I believe Gary will be very successful in whatever combination of interests he chooses. I want to thank Gary for the many contributions he had made to Cisco's values, culture and success."

"I have a great deal of confidence in the executive team at Cisco and the company's prospect for future growth," said Daichendt. "Cisco is a unique organization in a very dynamic and exciting industry. I feel privileged to have been part of the company's success over the past six years, and will miss the pace and the people. I am confident this is the right time for this transition to take place."

In commenting about the new roles of Senior Vice Presidents Justice and Redfield, Chambers said, "We are fortunate to have these leaders as we continue to move toward our goal of becoming a $50-billion company in the next three to five years."

Justice joined Cisco in 1996 as Senior Vice President of the Americas. Since then he has successfully grown the business from $2.3 billion in fiscal year 1996 to a current annual run rate of over $20 billion. Redfield joined Cisco in June 1993 as Vice President of Manufacturing and Logistics. During his six-year tenure at Cisco he led the industry in developing a virtual manufacturing model through outsourcing, while maintaining technical excellence in manufacturing operations and transferring that capability to its partners.

"It has been an honor to be Gary's personal friend and professional colleague for more than 15 years, the last six years at Cisco. I am confident that Gary will be extremely successful whichever opportunity he decides to pursue, and I wish him much success in the future."

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