Summary
Cisco Systems, Inc. (CSCO) announced the resignation of a key board member, Brenton L. Saunders, effective February 21, 2023. Mr. Saunders is departing to assume the role of Chair and Chief Executive Officer at Bausch + Lomb Corporation, a separate public company. This change impacts the composition of Cisco's Board of Directors.
Key Highlights
- 1Brenton L. Saunders resigns from Cisco's Board of Directors.
- 2The resignation is effective February 21, 2023.
- 3Mr. Saunders is taking on a leadership role as Chair and CEO of Bausch + Lomb Corporation.
- 4This is a change in board composition, not related to operational performance or executive departures within Cisco's management team.
Frequently Asked Questions
Mr. Saunders is resigning to accept the position of Chair and Chief Executive Officer at Bausch + Lomb Corporation.
The filing explicitly states the resignation is in connection with his appointment at another company, Bausch + Lomb Corporation. There is no indication in this filing that the resignation is due to performance or governance concerns at Cisco.
The resignation is effective February 21, 2023.
As Mr. Saunders is leaving Cisco's Board of Directors to join Bausch + Lomb Corporation, this is unlikely to directly impact Cisco's day-to-day business operations. It is a change at the board level for Cisco.