he would leave within two to four years. 20 internal candidates and they thought another guy rob lloydresume looks similar and not a big difference between him and rob lloyd. it's the kind of business as usual from cisco. >> a lot of people may not know this, but you worked for a cisco competitor. you know the industry from the inside out. is this the right bet to go with somebody from the sales side as opposed to say the marketing or the emergencying side. >> i think it's a good ideaed to go with the sales idea. investors have been telling me they thought that john chambers leaving would be a positive catalyst. not because they could run the company better than john but chuck will be aligned with john chambers's strategy. it is a sales focused strategy and what investors want to see is more cash to shareholders. another billion in dividends. most sit back and go to three to four bill kron from to two in cash return per quarter. people are looking for new blood to limp element a higher strategy. we will have to see whether they listen to what his investors want and raise the capital re

rob lloyd who headed sales for a long time was one of the names you might expect.arrior who came over from motorola. patell here is a guy cut from the mold of john chambers himself. taking over and with chambers still there as executive chairman you wonder how much a new ceo that came up through the company is able to make big changes if big changes are needed. how much can he cover the blind spots that the organization has developed over time? so we'll see, but a few people are scratching their heads for sure. >> well, investors bought the stock today. we want to go to this, because it marks the 20th annual sohn conference in new york where the best ideas are presented. >> and gil wapner has been reporting throughout the day. he joins us now with a special guest. scott, over to you. >> simon, thank you very much. i'm sitting here with jeffrey gundlach. he likes to be make a statement as much for the colors of his suit as the colors on the market. thanks to see you again. you have made a pretty big call here. you think rates have bottomed. >> i have been saying tha

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peter lloyd had been in the hunt as well as overbeak and chuck robbing robbins got the job. andrew and joe, some thoughts from our panel on this news, too. we've been listening in. warren you want to jump in? >> berkshire is having a board member in a couple hours and we don't like to get one up by cisco. >> john chambers is somebody you have known in the industry. >> john has done a fantastic job. his optimism and bringing together partnerships with microsoft and others. you know he's amazing. and he's had the job a long time. >> gentlemen, we'll send it back to you. but more coming up and other problems of the world, but we'll tackle in a little bit. joe? >> thanks becky. >>> more from warren buffett, charlie munger and bill gates after the break. >>> first, check out the shares of cisco. the tech giant naming chuck robbins replacing john chambers who will resume the role as executive chairman. (music) boys? stop less. go more. the passat tdi clean diesel with up to 814 hwy miles per tank. just one reason volkswagen is the #1 selling diesel car brand in america. man: you r