By Maria Armental


Cisco Systems Inc. hired Autodesk Inc.'s R. Scott Herren as its next chief financial officer, pointing to his role in driving Autodesk's business transformation.

San Jose, Calif.-based Cisco, considered a proxy for corporate high-tech hardware demand, has been moving to software and services, relying increasingly less on equipment sales.

"With a background in software, Scott will be instrumental in helping us accelerate our shift towards a software-based business model," Cisco Chief Executive Chuck Robbins said in a statement.

Mr. Herren is to join Cisco on Dec. 18 as executive vice president and CFO, succeeding Kelly Kramer.

Autodesk said it has initiated the search for a CFO. The company, which is slated to report third-quarter results on Nov. 24, said results for the quarter are expected to be above Autodesk's guidance range across all metrics.


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(END) Dow Jones Newswires

November 12, 2020 17:27 ET (22:27 GMT)

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