Joost Names New CEO

Former Cisco Systems Inc. executive Mike Volpi will become CEO of online video company Joost Operations SA, replacing founding CEO Fredrik de Wahl, the company announced Tuesday.

De Wahl will remain with Joost as chief strategy officer, the company said. Volpi, who takes command immediately, was a 13-year Cisco veteran, serving as the company's senior vice president and general manager of its Routing and Service Provider Technology Group until his resignation in February.

Under De Wahl's stewardship, Joost signed content distribution deals with major providers including CBS Corp. Still in beta, Joost will offer free video content supported by advertising, and is already poised to rival other such sites, namely Google Inc.'s YouTube.

Joost was founded in January 2006 by Janus Friis and Niklas Zennstrvm, creators of Skype Ltd., now part of eBay Inc.

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