Founders sold all Cisco stock due to zero respect for management
Sandy Lerner · Cisco Systems & Urban Decay: Sandy Lerner · Oct 1, 2018 · at 52:24
Cisco co-founder Sandy Lerner explains why she and co-founder Len Bosack liquidated their stock holdings after being ousted from the company in 1990.
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“Len and I agreed to sell our stock on a very joint basis, and we did it because we fundamentally had no respect for people running the company. And it wasn't really that we didn't believe in the company. I mean, I was the one who said that Cisco would be a billion dollar company, and I knew that that was, as long as those people stayed there, even without me and Len, they had a technology legacy that they would be successful. It was because Len and I did not wish to live our lives With those people having any more control over our day. It had nothing to do with financial.”
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