Victor and Janie Tsao,founders of Irvine-based Cisco-Linksys LLC,are stepping down from running the networking gear company they sold to Cisco Systems Inc. three years ago.
J. Michael Pocock, who had headed up Polaroid Corp.’s push into digital media, is taking over for the Tsaos, Cisco said in a statement late Wednesday.
The Tsaos,who share senior vice president titles and are general managers of Linksys,are set to stay with Cisco.
They plan to work on new investments in China for Cisco. The Tsaos will continue to report to Charles Giancarlo, chief development officer and president of Linksys.
The pair sold Linksys to Cisco for $500 million in 2003, putting them among Orange County’s wealthiest.
Under their leadership at Cisco, Linksys more than doubled yearly revenue, which is expected to top $1 billion this year.
“We felt the organization was ready for a new leader who would take Linksys to its next level,” Janie Tsao said in a statement. “We think the organization will benefit from someone with more experience in managing multibillon dollar corporations. After 18 years of growing with the company, it’s bittersweet to hand it off, but Victor and I are looking forward to sharing our experience with Cisco’s customers and colleagues in China.”
Linksys is seeking to appeal to a more mainstream audience as it tries to position itself for the networked home of the future that will connect everything from the television to the computer to the air conditioning.
Pocock is set to focus expanding sales to consumers and small businesses, while seeking new markets and expanding globally.
Under Pocock, Polaroid became the top seller of portable DVD players and entered digital music players and plasma TV markets.
Pocock formally started his new position on Monday.
The Tsaos will stay at Linksys until Pocock’s transition is complete and then serve as consultants to the business.
“I am honored to carry on the tradition that Victor and Janie have built over the past 18 years,” Pocock said in a statement.
