ADSK Autodesk Inc

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.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

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

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