Cisco's new CFO starts this week

Frank Calderoni replaces the retiring Dennis Powell, who had been at Cisco for 11 years

Cisco said Frank Calderoni's new role as executive vice president and chief financial officer will begin this week.

Calderoni replaces the retiring Dennis Powell, who had been at Cisco for 11 years. Cisco announced Powell's intention to retire last August and at that time named Calderoini as his replacement.

Calderoni will report to Cisco Chairman and CEO John Chambers. He joined Cisco in May 2004 after serving as CFO at both QLogic and San Disk.

Calderoni's most recent position at Cisco was senior vice president, Customer Solutions Finance, which he held since June 2007. In that role, he was responsible for leading finance operations in support of Cisco's sales and service organizations.

Cisco just reported second quarter results in line with Wall Street estimates but warned that growth could slow in the current third quarter due to softness in US and European sales.

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