Former Cisco President Robert Lloyd said Wednesday he was looking forward to disrupting the transportation industry as CEO of Hyperloop Technologies.
Lloyd announced his appointment as chief executive and board member on Hyperloop's blog on Wednesday. He takes the reins as the company is developing a test track to pilot its high-speed transportation technology, which shoots levitating pods through a low-pressure tube.
Tesla and SpaceX founder Elon Musk first presented the idea for the hyperloop in 2013, though he is not directly involved in Hyperloop Technologies. The Los Angeles-based company was co-founded by former SpaceX engineer Brogan BamBrogan and early Uber investor Shervin Pishevar, who now serve as chief technology officer and board chairman, respectively.
Lloyd joins Hyperloop after 20 years at Cisco, where he was rumored to be a possible successor to longtime CEO John Chambers. He left in July after Cisco named senior vice president Chuck Robbins CEO.
After helping to build out the Internet, Lloyd said he was excited to transform transportation.
"The engineering is a certainty," he told CNBC's "Squawk on the Street" "This is going to be about execution and turning Hyperloop into a reality."