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As current Avaya CEO Lou D'Ambrosio steps down due to health related reasons, Charles Giancarlo will move from his role at Avaya's owner, private equity firm Silver Lake, to interim CEO. Industry watchers long expected Giancarlo to take the CEO's office — just not at Avaya. Word has it Cisco's John Chambers wanted Giancarlo to be his successor. When Giancarlo left Cisco in December 2007, Chambers told reporters: “Charlie’s been one of the very few leaders that I’ve lost out of Cisco when it wasn’t the right time to lose him."