Former Cisco CEO John Chambers is ending his 24-year run on the networking company's board of directors.
The tech giant said on Monday that Chambers will not seek re-election as chairman when his term expires in December. Cisco CEO Chuck Robbins will take over as chairman, while Chambers will take on the honorary title of chairman emeritus.
Chambers became Cisco's executive chairman in 2015 -- when he stepped down after 20 years as Cisco's chief executive. Chambers is credited for transforming Cisco's product line and driving annual revenue to nearly $50 billion during his time as CEO. He was appointed to Cisco's board in 1993.
Chambers' exit likely marks the end of his day-to-day involvement with the company.
"John's brilliant mind, compassion and charismatic leadership have helped shape Cisco for over 20 years, and for that we are all grateful," said Robbins in a statement.
"John's influence on the industry is immense and he built Cisco around a culture of integrity and innovation that will continue to serve our employees, partners and customers for decades to come."
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In a question and answer session with his predecessor, incoming Cisco CEO Chuck Robbins has outlined his vision for Cisco in the post-John Chambers era.
The counter-drone startup will be using the funds for investment in sales and marketing, as well as for ongoing research and development.