Anyone with any clue as to what is happening in the tech industry knows Cisco is just managing its decline.
However, that doesn't preclude Cisco from being extremely profitable for senior executives. This is why they can still get people to sign up for senior executive jobs that have no chance of improving the outlook for the company - because it greatly improves the outlook for their personal investment portfolio.
These mercenary senior executives hang on for as long as they can because of their compensation and their perks which have little to no correlation to their performance. Chuck needs people willing to play a performative role, and he rewards them for that.
I was reading the board while musing over changing the job, and came across this piece which says it all (@4kai+1sSUXSq5).