BlackRock, Inc. (NYSE: BLK) have announced that Charles H. “Chuck” Robbins, Chief Executive Officer of Cisco Systems, Inc. (“Cisco”), has been nominated to join BlackRock’s Board of Directors. Mr. Robbins will be included as a nominee in BlackRock’s 2017 proxy statement and if elected by shareholders, he will join the Board as an independent director following the company’s Annual Meeting on May 25.
“Throughout his career, Chuck has helped global corporations navigate a world being reshaped by technological advancement,” said Laurence D. Fink, BlackRock Chairman and CEO. “At BlackRock, technology is rapidly transforming how we invest, measure risk, distribute our products, and run our operations. Embracing and driving that transformation has been a key differentiator for BlackRock since our founding and remains core to our future success.
“We have consciously developed our Board with an eye towards the future. Since 2012, we’ve added five independent directors who bring fresh perspectives and diverse skills and experiences to help shape the company’s long-term growth strategy. Chuck brings a deep understanding of technology’s promise to our Board at a crucial time for BlackRock.”
Mr. Robbins serves as the Chief Executive Officer of Cisco and a member of its board of directors. Prior to assuming this role in July 2015, he was Senior Vice President of Cisco’s Worldwide Field Operations and led its Worldwide Sales and Partner Organization where he helped drive and execute many of Cisco’s investment areas and strategy shifts. He serves as Chairman of the U.S.-Japan Business Council, Chair of the IT Governors Steering Committee for the World Economic Forum and is a Member of the International Business Council for the World Economic Forum and The Business Roundtable.
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At December 31, 2016, BlackRock’s AUM was $5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of December 31, 2016, the firm had approximately 13,000 employees in more than 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.