OFFICIAL-CORRECTED-Cisco's Giancarlo leaving company

(Corrects company name to Silver Lake instead of Silver Lake Partners as Cisco stated)

NEW YORK, Dec 20 (Reuters) - Network equipment maker Cisco Systems Inc (CSCO.O: Quote, Profile, Research, Stock Buzz) said Chief Development Officer Charles Giancarlo, widely seen as a leading candidate for future CEO, is leaving the company.

Giancarlo, 50, said he will work at Silver Lake as a managing director.

Chief Executive John Chambers said the company would reorganize its management structure and that he would not replace the CDO position. (Reporting by Ritsuko Ando)