Skype makes Cisco executive new CEO

Earlier this year, Skype, which currently has more than 560 million registered users around the world, filed for a $100 million initial public offering. eBay sold its controlling interest in the Internet telephony company in late 2009. If Skype decides to go through with the IPO, which is looking increasingly likely with the hiring of Bates, it will be listed on the Nasdaq index.

Rumors have been swirling lately that Cisco was getting close to acquiring Skype. But it seems that with this acquisition, the VoIP (voice over Internet Protocol) company plans to try its luck going public, rather than sell itself to the enterprise giant.