---
schema_version: "secwatch.filing_event.v1"
accession: "0000858877-23-000025"
form_type: "8-K"
ticker: "CSCO"
cik: "0000858877"
company_name: "CISCO SYSTEMS, INC."
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T03:06:31.220299+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Three Cisco directors not standing for re-election; PayPal's former CEO Daniel Schulman appointed to board

## Summary
- M. Michele Burns, Roderick C. McGeary, and Dr. Lisa T. Su will not stand for re-election at the 2023 annual meeting.
- Daniel H. Schulman, former President and CEO of PayPal, appointed to Cisco's board effective October 10, 2023.
- Schulman receives standard non-employee director compensation: pro-rata $80k annual cash retainer and pro-rata $245k initial equity award.
- Schulman's committee assignments have not yet been determined; he entered into Cisco's standard indemnification agreement.

## SEC filing metadata
- accession: 0000858877-23-000025
- form_type: 8-K
- ticker: CSCO
- cik: 0000858877
- company_name: CISCO SYSTEMS, INC.
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/csco-20231004.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000858877-23-000025
- JSON: https://secwatch.observer/filing/0000858877-23-000025.json
- Plain text: https://secwatch.observer/filing/0000858877-23-000025.txt

## Key facts
- Executive change
  Daniel H. Schulman was appointed as Director at CISCO SYSTEMS, INC..
  - Action: appointed
  - Role: Director
  source text: On October 5, 2023, the Board of Directors (the “Board”) of Cisco appointed Daniel H. Schulman, former President and Chief Executive Officer of PayPal Holdings, Inc., as a member of the Board effective October 10, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm
- Executive change
  Roderick C. McGeary departed as Director at CISCO SYSTEMS, INC..
  - Action: not stand for re-election
  - Role: Director
  source text: On October 4, 2023, M. Michele Burns, Roderick C. McGeary, and Dr. Lisa T. Su each notified Cisco Systems, Inc. ("Cisco") of their respective decision not to stand for re-election at Cisco's 2023 annual meeting of stockholders (the "2023 Annual Meeting").
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm
- Executive change
  M. Michele Burns departed as Director at CISCO SYSTEMS, INC..
  - Action: not stand for re-election
  - Role: Director
  source text: On October 4, 2023, M. Michele Burns, Roderick C. McGeary, and Dr. Lisa T. Su each notified Cisco Systems, Inc. ("Cisco") of their respective decision not to stand for re-election at Cisco's 2023 annual meeting of stockholders (the "2023 Annual Meeting").
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm
- Executive change
  Dr. Lisa T. Su departed as Director at CISCO SYSTEMS, INC..
  - Action: not stand for re-election
  - Role: Director
  source text: On October 4, 2023, M. Michele Burns, Roderick C. McGeary, and Dr. Lisa T. Su each notified Cisco Systems, Inc. ("Cisco") of their respective decision not to stand for re-election at Cisco's 2023 annual meeting of stockholders (the "2023 Annual Meeting").
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000085887723000025/0000858877-23-000025-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.