The odds on favorite being groomed to replace Cisco CEO John Chambers was Chief Development Officer Charles Giancarlo. However, Giancarlo apparently has other plans. He announced that effective December 31, 2007 he will be leaving Cisco to pursue other opportunities. Giancarlo was instrumental in creating a new collaborative leadership body, the Development Council, which will help to fill the void. Does Giancarlo’s abrupt departure signal anything deeper or more ominous going on at Cisco, or did he just get restless and decide to move on? It is hard to say, but so far it appears that he simply chose to move on. Read Key Cisco leader Giancarlo steps down for more details.