Cisco Gives Giancarlo the Nod

Cisco (CSCO Quote) has crowned a would-be king.

In the networking giant's second management shake-up in as many years, longtime exec Charlie Giancarlo will get another promotion, this time to the company's No. 2 job.

Cisco says Giancarlo will take the chief development officer post when Mario Mazzola retires at the end of this month, according to an announcement late Thursday.

Though Cisco's sprawling organization chart lists 25 senior vice presidents and doesn't exactly name Giancarlo as the second-in-command under CEO John Chambers, observers say the power structure is obvious. ...