Repatriation of Foreign Earnings ‘Would Be Very Positive for Us,’ Says Cisco CEO

Cisco and Chairman Emeritus John Chambers have been trying to get tax overhaul “pushed through” Congress for 15 years, “and so we are we are quite pleased that we are at the point we are at now,” CEO Chuck Robbins told the company’s annual shareholder meeting Monday. “There are lots of dynamics between the House version and the Senate version that we are obviously providing input on,” said Robbins, who assumed the executive chairman post from Chambers, who stepped down from the board effective with the annual meeting. “The biggest thing that we believe is important not only is a competitive tax rate for U.S. companies,” but also “the repatriation of foreign earnings would be very positive for us,” he said. “So, we are optimistic, or maybe I should say hopeful, that we get something done here in the next few weeks.”