Joost views ex-Cisco prodigy as CEO

Joost is wooing former Cisco senior executive Mike Volpi to take the reins as CEO of the online video service, according to reports.

Volpi was formerly heir presumptive for Cisco's CEO spot, but left the company earlier this year, citing personal reasons. Many assume his departure was spurred by a desire to head a company — since Cisco's 56-year-old CEO John Chambers has no plans to leave, and Chief Development Officer Charlie Giancarlo is next on the bench.

Although Joost won't comment on rumors, digital media publication paidContent reports that multiple sources confirm discussions between Volpi and Joost are in the final stages and an announcement could come early as next week.

The company recently closed a $45m round of funding, and would seem to be shopping for a new head to replace current CEO Fredrik de Wahl, who oversaw the video service through beta. Wahl was previously the chief of Joltid, which provides the peer-to-peer layer of Skype and Joost.

Joost is a video service developed by Skype and Kazaa founders, Niklas Zennström and Janus Friis. The company has dubbed itself "...the world's first broadcast-quality Internet television service."

The company has inked content deals with CBS and Viacom, as well as independent production companies. It claims 150 channels of content with shows such as "CSI" and "Beavis and Butthead."

Given Cisco's insatiable acquisition appetite and love for demanding bits, it's not hard to imagine a Volpi-led Joost being swallowed. ®