Cisco Adds to Board

Cisco appoints Wells Fargo chairman and CEO Richard Kovacevich to its board of directors

January 19, 2005

1 Min Read

SAN JOSE, Calif. -- Cisco Systems, Inc. today announced the appointment of Richard M. Kovacevich, chairman and CEO, Wells Fargo & Company, to its board of directors effective January 19, 2005.

"We are extremely pleased to have Dick Kovacevich join the Cisco board," said John Morgridge, chairman of the board, Cisco Systems. "His distinguished career in the banking and financial services industries will provide Cisco with considerable expertise and a unique perspective as we continue to execute on our growth strategy."

Kovacevich, 61, became president and chief executive officer of Wells Fargo & Company in 1998, after the merger between Wells Fargo and Norwest Corporation, and was named chairman in April, 2001. He became Norwest's CEO in 1993 and chairman in 1995, after serving as president and COO since 1989. He joined Norwest in March 1986 as vice chairman and COO and head of the Banking Group. Prior to joining Norwest Corporation, he was group executive and member of the policy committee of Citicorp. He began his business career at General Mills.

Kovacevich is a member of the Board of Directors of Cargill Inc., Target Corporation, Chairman of the California Business Roundtable, a member of Governor Arnold Schwarzenegger's California Commission for Jobs and Economic Growth and a member of Federal Reserve's Federal Advisory Council.

Cisco Systems Inc.

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