Joost replaces CEO with Cisco veteran

Joost, the internet video start-up, has tapped Mike Volpi, the former Cisco crown prince, to head the company.

Volpi succeeds Fredrik de Wahl, who remains at Joost as chief strategy officer.

Speculation on the executive shuffle began last week when several sources caught wind of the deal. Joost recently closed a $45m round of funding, giving the company pocket change to shop for a veteran CEO as the video software moves out of beta.

Joost is a video service developed by Skype and Kazaa founders, Niklas Zenström and Janus Friis. Having already inked deals with CBS and Viacom, the company hopes to woo more studios with purportedly superior IP protection-friendly than Google's YouTube. ®