Cisco 2002 Annual Report Download - page 7

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Cisco Systems, Inc. 5
and vice presidents. And, although we were not able to add large numbers of people company-wide, we
viewed this as an opportunity to add major leadership talent to our senior management team, and you
will continue to see us position ourselves for the next decade.
Also this past year, Cisco received an important award that meant a great deal to us. Barron’s and Investor
Relations magazines awarded Cisco “Best Investor Relations Officer” and “Best Investor Relations by a
CEO,” in what was a very challenging year. We want to thank shareholders for your confidence, and we
will continue to do everything possible to reward that confidence.
In many ways, fiscal 2002 was about constant focus and execution. With that in mind, we are very
optimistic about our future opportunities. However, we must balance this calm confidence with a healthy
dose of paranoia. How well we do will depend on how well we execute, how quickly the industry adopts
the inevitable convergence of data, voice, and video, and ultimately on when the economy and capital
expenditures pick up. But in the areas that we can control and influence, we believe we are well positioned
for greater future success.
We are dedicated to doing the best possible job for our shareholders, customers, partners, and employees
as we continue to prepare ourselves for the upturn. We want to thank you for your continued patience
and your confidence.
Donald T. Valentine
Vice Chairman of the Board
John P. Morgridge
Chairman of the Board
Donald T. Valentine
Vice Chairman of the Board
John P. Morgridge
Chairman of the Board
John T. Chambers
President and Chief Executive Officer