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Last week Cisco Systems announced that CEO John Chambers, who has run the company for more than 20 years, will retire in July and transition to the role of executive chairman. It signals the end of an era for Jim Cramer, as the technology industry just won't be the same.
Instead, Chuck Robbins will take over as CEO after serving as the company's senior vice president for worldwide field operations. Cramer has watched as Cisco has transformed itself, planting in the epicenter of the Internet of things with top quality security built right into its products.
This comes as a critical time, as issues such as data hacking are becoming more common among companies. Additionally, Cisco has a large European business that could gain strength as the European economy appears to be ramping up on a stronger euro.
Cisco reported at the close on Wednesday, and delivered a 1 cent earnings beat from a 53 cent basis. It also reported higher than expected sales, up 5.1 percent year over year.
To find out more on what could be in store for the future of Cisco, the "Mad Money" host spoke with the outgoing CEO.
"Our company is in the most competitive position ever. We've moved from selling boxes to outcomes. You're digitizing every country and every company. You either change and disrupt, or you get left behind," Chambers said. (Tweet This)
The CEO added that he projects in the mid-point of Cisco's guidance that they will have record earnings per share, along with record revenue. This is unique in the technology industry, as he noted that many of Cisco's peers are dropping into the negative.
"There will always be a new group of challengers. You and I have seen them come and go over the years, and they've mainly come and go more rapidly," Chambers added.
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Chambers also commented on leaving Cisco, saying that, over the years, when the company gets knocked down, it has learned to get up stronger.
"There will be opportunities and there will be challenges, but Chuck is absolutely the right CEO at the right time to take us to the next level," Chambers said.