New Cisco CEO Earns Kudos From Analysts, Hints at Cost-cutting Improvements

NEW YORK ( TheStreet) -- Cisco's  (CSCO) new CEO is already earning high marks from analysts.

Chuck Robbins, who was named to replace longtime CEO John Chambers on Monday, will help the computer networking company "gain momentum in a tough market right now," said Tim Zimmerman, vice president of research at Gartner.

Robbins is the company's senior vice president of worldwide operations and has been with the San Jose, Calif.,-based IT firm for about 17 years. He will replace outgoing CEO John Chambers effective July 26. Robbins was also elected to the Board of Directors, effective May 1.

Robbins hinted that he would improve operational efficiency to control costs but said he would also honor the IT company's long-standing goals and forge ahead with a fresh competitive agenda.  

Chambers is stepping down after 20 years to pursue personal interests in a move he suggested more than a year ago. He will assume the role of executive chairman on July 26 and will continue to serve as the chairman of Cisco's board.

In an afternoon conference call, Robbins said that he expects Cisco to clarify its business and technology strategy in more detail over the coming years. 

"I believe the next wave -- digitization, which is enabled through the Internet of Everything -- will maybe 10 times bigger than anything we've seen in the past," Robbins said.  "We're well positioned, and our customers expect us to help them through this next wave."

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