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Cisco CEO John Chambers Statement on Marc Benioff

September 12, 2014 at 2:30 pm PST

Today, Cisco filed an 8K with the SEC on our board of directors composition which stated the following:

“The Board of Directors (the “Board”) of Cisco Systems, Inc. (“Cisco”), upon recommendation by the Nomination and Governance Committee of the Board, has nominated each of the current directors for election, and each has decided to stand for re-election at the 2014 Annual Meeting of Shareholders, with the exception of Marc Benioff, Chairman and Chief Executive Officer of salesforce.com, inc., who on September 8, 2014 had notified Cisco and its Board of his decision not to stand for re-election at the 2014 Annual Meeting of Shareholders. The Board has reduced the size of the Board to ten members effective at the time of the 2014 Annual Meeting of Shareholders.  Mr. Benioff will continue to serve as a director until Cisco’s 2014 Annual Meeting of Shareholders to be held on November 20, 2014.”

Cisco Chairman and CEO John Chambers offers the following statement:

“I am extremely thankful for Marc’s service to Cisco, especially as his own company is currently enjoying hyper growth and the demands on him are enormous. His infectious passion and guiding vision are crucial for Salesforce.com. I personally asked him to join the Board as I knew that his laser focus on customers would help Cisco as we navigate through the many market transitions of cloud, mobility, security, Internet of Everything and more. His insight, experience and knowledge in software and the cloud has been invaluable to Cisco. His focus on innovation, customers and outcomes during his time on the board will continue to have positive impact on Cisco for years to come. I thank Marc for his exemplary service, and am glad he’ll be with us through November, and look forward to continuing the close relationship between Cisco and Salesforce.”

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Jerry Yang to Retire from Cisco’s Board

After 12 years of dedicated service, Jerry Yang has chosen to retire from Cisco’s Board of Directors to more fully pursue new personal and business interests.

Jerry has been an active member of our Board of Directors since July 2000. As the co-founder of Yahoo! Inc. and with his background in information technology and technology development, Jerry’s strategy and leadership skills on the board have been invaluable. Jerry will continue to serve as a director until Cisco’s 2012 Annual Meeting of Shareholders on November 15, 2012.

During Jerry’s tenure on the board, Cisco has more than doubled annual revenue from approximately $19 billion to $46 billion, tripled profits from $2.7 billion to $8.0 billion, and grown headcount from 34,000 to approximately 67,000 employees. On behalf of Cisco’s Board of Directors, we are extremely proud to have worked with Jerry on these accomplishments, and he will certainly be missed by me, our fellow board members and our entire company.

Thank you for your great service to Cisco, Jerry.

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