For weeks now, there have been calls for Cisco CEO, John Chambers, to quit the company. In fact, Chambers has even earned the nick-name “Mubarak”. I have been sitting on the sidelines watching Cisco’s pathetic performance. Now, I too think that it is time for John “Mubarak” Chambers to go.

Under his watch, the stock has dropped over 85% in the last 10 years. It has lost 32% percent in the last year when the markets have soared. Chambers is quick to point out that under his tenure, Cisco has had its best years – pointing to between 1998 to 2000. That was the dot com era. So did everyone else have their best years then.

Mubarak Chambers has spent over $35 billion acquiring hundreds of companies that have gone no where. There were no synergies or coherence behind the acquisitions. It was a role of the dice. The acquisitions have netted Cisco a sea of employees that have made the company uncompetitive.

Now, Chambers is telling the investment community that he is changing things by trimming $1 billion in expenses meaning cutting 3000 – 4000. Sources say Cisco needs to cut 20,000 employees. I think the number could be far greater – maybe, even as high as 50,000. That is what is required to turn Cisco around.

Cisco (CSCO) has been uncompetitive on all fronts. It is too bloated with bureaucy, over-managed, and mis-managed and as a result, underperforms. CNBC’s Mad Money host, Jim Cramer, told investors that “the company is broken” and to stay away. In fact, a CNBC reporter told Chambers, [sic] “Your company has become a dinosaur – your problems are internal ones”, because Chamber had a long list of external reasons for Cisco’s pathetic performance.

The market is getting tired of Chambers’ repeated screw-ups every quarter. Mubarak Chambers is not the person to fix Ciscos problems or turn it around. If fact he created the problems.

Now, there are calls to remove Cisco from the Dow because it has become a kiss of death for the index. It is a dead stock and it is dragging the index. Here is the case InvestorPlace is making about booting Cisco from the index.

I’m not just projecting frustration at Cisco (NASDAQ: CSCO) because of this dead tech stock’s performance over the last few years. But Cisco, unfortunately, exhibits one of the worst characteristics about newcomers to the Dow – namely, the fact that joining the Dow is the kiss of death for a blue chip stock. Why should we suffer an underperforming tech stock when there are plenty of older, more attractive alternatives already part of the index? …Cisco is the one that should be shown the door.

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