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Cisco names Ekta Singh-Bushell to board of directors

EditorNatashya Angelica
Published 14-06-2024, 09:48 pm
© Reuters.

SAN JOSE, Calif. - Cisco Systems, Inc. (NASDAQ: CSCO) announced today the appointment of Ekta Singh-Bushell to its board of directors. Singh-Bushell's tenure on the board commences immediately.

With a distinguished career in business leadership, Singh-Bushell brings to Cisco a wealth of experience from her most recent role as deputy to the first vice president and chief operating officer at the Federal Reserve Bank of New York. Her background also includes approximately 17 years at Ernst & Young, where she held several key positions, including global client services partner and global information security officer.

Chuck Robbins, chair and CEO of Cisco, expressed his enthusiasm about the appointment, noting Singh-Bushell's expertise in data, security, and services as valuable assets to the company's board. He anticipates her contributions will significantly benefit Cisco.

Beyond her new role at Cisco, Singh-Bushell serves on the boards of several public companies, including ChargePoint (NYSE:CHPT) Holdings, Inc., Huron Consulting (NASDAQ:HURN) Group Inc., Lesaka Technologies, Inc., and TTEC Holdings (NASDAQ:TTEC), Inc. Her academic credentials include a Master of Science in Electrical Engineering & Computer Science from the University of California, Berkeley, and a Bachelor of Engineering degree from the University of Poona. Moreover, she is a licensed certified public accountant.

This strategic appointment comes as Cisco continues to lead in the technology sector, focusing on connecting everything securely to make anything possible. The company aims to foster an inclusive future by assisting customers in reimagining their applications, securing their enterprises, and achieving their sustainability goals.

The information regarding Singh-Bushell's appointment is based on a press release statement from Cisco Systems, Inc.

In other recent news, Cisco Systems Inc (NASDAQ:CSCO). has been making strategic strides in its growth initiatives. BofA Securities maintained its Buy rating on the company, citing potential areas of outperformance such as advancements in AI networking, security product growth, and anticipated revenue synergies following the integration with Splunk (NASDAQ:SPLK).

The company's management has projected a year-over-year revenue growth of 5% for FY26 and FY27, which BofA Securities suggests may be conservative estimates.

In a significant collaboration, Cisco and Splunk Inc . have launched a Unified Observability Experience aimed at enhancing full-stack observability across diverse IT landscapes. This partnership is expected to streamline troubleshooting and improve executive-level visibility. Analysts from Piper Sandler and JPMorgan (NYSE:JPM), however, have maintained a Neutral rating for Cisco, with price targets of $52.00 and $53.00 respectively.

Cisco has also initiated a $1 billion fund dedicated to investments in artificial intelligence (AI) startups, already allocating nearly $200 million to companies like Cohere, Mistral AI, and Scale AI. This move is part of a series of over 20 AI-focused acquisitions and investments the company has made in recent years.

Cisco's commitment to AI extends across its product portfolio, with the company integrating generative AI and machine learning technologies to enhance its offerings. These developments underscore Cisco's strategic focus on AI as a key area for development and investment.

InvestingPro Insights

As Cisco Systems, Inc. (NASDAQ: CSCO) welcomes Ekta Singh-Bushell to its board of directors, the company's financial health and market position remain critical for investors. According to InvestingPro data, Cisco boasts a robust market capitalization of $183.39 billion and maintains a Price-to-Earnings (P/E) ratio of 15.21, indicating investor confidence in its earnings potential. Furthermore, the company has demonstrated a Gross Profit Margin of 64.65% over the last twelve months as of Q3 2024, showcasing its ability to manage costs and sustain profitability.

InvestingPro Tips highlight several aspects of Cisco's financial journey. Notably, the company has raised its dividend for 13 consecutive years, reflecting a strong commitment to returning value to shareholders. Moreover, Cisco's stock is known for its low price volatility, which may appeal to investors seeking stability in their portfolio. For those interested in further analysis, there are 11 additional InvestingPro Tips available, providing deeper insights into Cisco's financial outlook and performance.

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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