News Summary:

• Cisco appoints Dan Schulman to its board of directors effective October 10, 2023.
• Schulman, a highly accomplished business leader, most recently held the position of president and CEO at PayPal Holdings, Inc.
• M. Michele Burns, Rod McGeary and Dr. Lisa T. Su have notified the Board that they will not stand for re-election at Cisco’s 2023 annual meeting in December 2023.

SAN JOSE, Calif., Oct. 10, 2023 – Cisco (NASDAQ: CSCO) today announced the appointment of Dan Schulman to its board of directors effective October 10, 2023.

“Dan is a proven and well-respected business leader, and I am pleased to welcome him to Cisco’s board,” said Chuck Robbins, chair and CEO of Cisco. “His strong leadership driving business transformation in the digital era combined with deep experience in technology and strategic planning will be a valuable asset to our board.”

Schulman previously served as president and CEO of PayPal Holdings, Inc. from July 2015 until September 2023, and served as the president and CEO-designee of PayPal from September 2014 until July 2015. Schulman also served as president of the Prepaid Group at Sprint Nextel Corporation following its acquisition of Virgin Mobile USA, Inc., where he led the company as its founding CEO. Earlier in his career, Schulman was president and CEO of Priceline Group, Inc. and at AT&T, Inc. he held a series of positions, including president of the Consumer Markets Division.

Schulman is on the boards of PayPal, Verizon Communications, Inc., and Cleveland Clinic and previously served on the boards of NortonLifeLock (formerly Symantec Corporation) and Flex Ltd. He earned a Bachelor of Arts degree from Middlebury College and a Master of Business Administration from New York University’s Leonard N. Stern School of Business.

Cisco also announced that M. Michele Burns, Rod McGeary and Dr. Lisa T. Su have notified the Board that they will not stand for re-election at Cisco’s 2023 annual meeting. Both Burns and McGeary have served on Cisco’s Board for twenty years, and Su has served since 2020.

“On behalf of the board and all of Cisco, I want to thank Michele, Rod and Lisa for their many contributions. Each of them has brought a unique perspective which has helped Cisco’s success over the years,” said Robbins.

For more information about Cisco’s board of directors visit here.

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