SAN JOSE, Calif., July 31, 2000 - Cisco Systems, Inc. today announced the appointment of two new members to its Board of Directors. Jerry Yang, co-founder and Chief Yahoo of Yahoo! Inc.; and Larry Carter, chief financial officer of Cisco Systems were elected by the Board in June, 2000. The election raises the number of board members to 12.
Yang, 31, co-founded Yahoo! Inc. in August 1995 while he was a graduate student of engineering at Stanford University. Under Yang's leadership, Yahoo! has continued to expand its global network of properties to further strengthen its Web presence. Today, Yahoo! is used by more than 156 million individuals each month and is one of the most recognized brands associated with the Internet.
"Having built a leading Internet media company, Jerry is recognized worldwide as a leader in the Internet industry. Yahoo! has enjoyed a long-standing relationship with Cisco during the last few years, and Jerry brings invaluable technical competency and entrepreneurial spirit to Cisco's board," commented Morgridge.
Carter, 55, has been the chief financial officer at Cisco Systems since 1995. His efforts have resulted in Cisco Web enabling its financials to monitor daily activity and to close its books worldwide in less than one working day. Before joining Cisco, Carter was vice president and corporate controller of Advanced Micro Devices as well as vice president of finance and chief financial officer at VLSI Technology and chief financial officer and vice president of finance and administration at SGS Thompson Microelectronics. Carter also spent 19 years working in a variety of finance positions at Motorola, Inc.
"Larry is a tremendous addition to the board," said John Morgridge, Cisco chairman of the board. "His years in the semi-conductor industry along with his success maintaining a culture of financial conservatism in a company that undertakes aggressive business strategies make Larry a real asset to the board."
In addition to Morgridge, members of the Cisco board are: Carol Bartz, chairman and CEO of Autodesk, Inc.; John Chambers, president and CEO of Cisco; Mary Cirillo, Deutsche Bank; James F. Gibbons, professor of electrical engineering and special counsel for industrial relations at Stanford University; Edward R. Kozel, managing member, Open Range Ventures; James C. Morgan, chairman and CEO of Applied Materials, Inc; Arun Sarin, chief executive officer, InfoSpace; Donald Valentine, general partner of Sequoia Capital; and Steven M. West, president and CEO of Entera, Inc.
