Cisco's IoT Leader Finds Other Things to Do

Cisco's vice president and general manager of the Internet of Things (IoT) Group is leaving the company.

Blogger Brad Reese first revealed that Guido Jouret has resigned from the networking giant. The Wall Street Journal later reported that, according to Cisco, Jouret is leaving to "pursue a new opportunity."

Rob Soderbery, SVP of Cisco's enterprise networking group, which oversees the IoT division, will now directly manage it.

Cisco Systems Inc. (Nasdaq: CSCO) CEO John Chambers has been a vocal advocate of the opportunities represented by machine-to-machine (M2M) and the IoT. He has previously pegged the market size at $19 trillion. (See Chambers Caught in 90s Deja Vu.)

The company has also recently boosted the amount of funding it has on hand for startups by an extra $150 million to $250 million, with early-stage IoT/Internet of Everything companies being one of the main targets for investments. (See Cisco Investments Gets $150M Boost.)

— Dan Jones, Mobile Editor, Light Reading