Cisco fills seats at the top
The networking gear maker names an executive to take charge of corporate accounting compliance and appoints a boardroom replacement for Arun Sarin, the new head of Vodafone.
The company, the market leader in router and switch manufacturing, said Wednesday that its corporate controller, Betsy Rafael, 42, has been appointed principal accounting officer. In the newly created post, she will play a significant role in helping Cisco comply with corporate governance regulations that took effect in April, the company said in a statement.
Under the Sarbanes-Oxley Act, public companies now have to establish procedures for employees to anonymously log accounting and auditing complaints. In addition, companies have to establish methods for collecting, retaining and treating those complaints.
Rafael will have "companywide responsibility for strategy and policy matters covering all aspects of accounting and financial reporting," Cisco said in a statement.
The San Jose, Calif.-based company also announced that Roderick McGeary, 53, will replace Cisco board member Arun Sarin, who resigned on Wednesday. Sarin, who has been appointed chief executive officer of British cell phone giant Vodafone, had been a member of the board of directors for five years.
McGeary is a board member of corporate training specialists DigitalThink and wireless business software maker Gric Communications. He was previously co-chief executive of KPMG Consulting, now called BearingPoint.