Cisco takes on new CFO

Link: Cisco accountants facing jail

Dennis Powell took charge of the company’s global finances yesterday, succeeding Larry Carter who has retired after eight years in the post.

Prior to this appointment Powell served as senior vice president, corporate finance at Cisco and before that he spent 26 years at Coopers & Lybrand LLP (now PricewaterhouseCoopers), where he rose to the position of senior partner.

Carter will remain on the company board as a senior vice president advising the company on special topics.

Powell will report to Cisco president and chief executive officer, John Chambers.

‘I have no doubt that the company is in good hands under his formal leadership and am confident that as CFO his deep understanding of the business and the finance organisation will continue to build on our tradition of integrity, financial performance and conservatism,’ Chambers said.

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