Cisco’s Chief Developement Officer, Charles Giancarlo resigns.

It will be interesting to watch the investment community try to read the tea leaves on this one. It’s probably safe to say the Mr. Giancarlo does not anticipate a big jump in Cisco’s stock price for the near term. Giancarlo’s next role is as managing director at the investment firm Silver Lake.

Giancarlo joined Cisco 14 years ago when it bought Ethernet switch maker Kalpana. He started Cisco’s business development organization and spearheaded its aggressive acquisition strategy, even in the lean years following the dot-com crash of 2000.

During the conference call, Chambers and Giancarlo were affable and nostalgic about their long working relationship — but they never minced words: Chambers said he has little intention of stepping down in the near future; he emphasized that he would remain CEO for at least three years, more likely five.

Meanwhile, Giancarlo alluded to his ambitions to be at the helm of a company, and he was frank about the shrewd calculations he made about his career after turning 50 this year.

“I went home one day and talked to my wife and said, ‘Honey, I now know what you mean by a biological clock,’” Giancarlo said. “I feel young, but you do the math: I don’t know what my decision process will be in five years, but I know what it is today.” (from Yahoo)