Cisco 2005 Annual Report Download - page 12

John T. Chambers
President and Chief Executive Ofcer
John P. Morgridge
Chairman of the Board
Donald T. Valentine
Vice Chairman of the Board
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We intend to continue to add both engineering and sales
resources as we focus on developing the next wave of
advanced technologies, growing the commercial market
segment, capitalizing on our emerging market opportunities,
and increasing our market share gains.
Corporate Citizenship and Social Responsibility
An integral part of Cisco’s business strategy is corporate citi-
zenship. We believe this is not only the right thing to do, but
is also just plain “good business.” We employ and advocate
responsible business practices and programs, which builds a
lasting trust with our key stakeholders—customers, partners,
employees, and shareholders. In the fall of 2005, Cisco will
release its rst Corporate Social Responsibility Report, which
will be available at www.cisco.com/go/citizenship.
We are dedicated to sustaining a diverse, inclusive workforce.
We employ responsible operations, product stewardship, and
environmentally friendly design policies, and we encourage
our suppliers to adhere to these standards. Cisco is com-
mitted to sound and transparent corporate governance and
nancial disclosure practices. Our Website provides Cisco’s
corporate governance policies and practices, corporate citi-
zenship programs, and nancial information.
Cisco is also committed to education. We have Networking
Academies in more than 160 countries, with approximately
10,000 academies and 420,000 students. Students in high
schools, technical schools, colleges, and community orga-
nizations learn hands-on networking skills to prepare for
the workforce of today and the future. The Jordan Educa-
tion Initiative, spearheaded by Cisco in partnership with the
World Economic Forum and several other organizations,
has created a replicable model and is expanding its inter-
active e-curriculum-based education programs into other
geographic areas.
In the area of giving back, employees celebrated Cisco’s
20th anniversary by donating more than 20 years’ worth of
community service hours, or 235,000 hours—far exceeding
the goal of 175,200. During a time of global need, Cisco and
our employees donated more than $4 million in relief efforts
for the South Asia tsunami victims. We are truly proud to be a
part of a strong culture of giving back and social responsibility.
Built to Last, Built to Lead
In scal 2005, we made evolutionary changes that support
our long-term strategy. We announced a reorganization
of our geographic segments to better address our global
approach and focus on key growth areas. We evolved our
engineering and sales leadership, demonstrating our contin-
ued bench strength and investment in future opportunities.
Our ability to implement these changes smoothly is one of
our core competencies.
Fiscal 2005 marked the end of our 20th anniversary, and on
August 10, 2005, more than 3,000 employees participated in
the “Virtual Opening” of The NASDAQ Stock Market at Cisco’s
headquarters. This historical virtual opening bell ceremony
showcased the power of networking technology, demonstrat-
ed how a stock market can be opened anytime, anywhere,
eliminating distance and time restrictions, and reiterated
Cisco’s commitment to technology and innovation leadership.
Looking ahead, we believe that Cisco’s unique balance of
nancial strength, product leadership, and global presence
truly position us as a company that is not only built to last, but
built to lead. We would like to recognize the contributions of
Don Valentine and Jim Gibbons for their years of service to
Cisco’s Board of Directors, and on behalf of the Board, we
would like to thank our customers, partners, employees, and
shareholders for their continued condence and support.
We hope to make the next 20 years equally successful.