Cisco Gives Giancarlo the Nod

But instead of signaling trouble, Cisco watchers say Giancarlo's rise is part of a broader infusion of new management blood at the growth-challenged tech giant.

In addition to Giancarlo's promotion, security tech chief Jayshree Ullal will add the storage and switching business to her list of responsibilities, replacing Luca Cafiero, who is retiring. And router technology chief Mike Volpi will also head Cisco's telco business as Prem Jain retires.

Analysts say the executive shuffle is probably not any indication of business trends, but more likely is related to the end of the company's fiscal year. This is a natural time to make management moves and reset priorities, say observers.

On Friday, Cisco rose 25 cents to $19.09.