Hooper, a 13-year Cisco veteran, oversaw the $3.4 billion deal for Norwegian video conferencing company Tandberg as well as the $5 billion acquisition of the pay-TV smartcard maker NDS, a deal which has not yet closed.
Hooper will be leaving to form an independent investment company, Cisco said on Tuesday.
He was considered a potential successor to John Chambers who had to announce job cuts and a major reorganization last year after several quarters of sub-par growth.
However, Cisco has since reported three straight solid quarters, squelching any speculation about Chief Executive John Chambers stepping down.
The polished and eloquent Warrior, who joined Cisco in 2007 after spending 23 years at Motorola, will remain CTO in addition to her new role.
"This allows her to focus on what she does well," Gartner analyst Andrew Butler said.
"Like (CEO) Chambers, Warrior is great on stage, she is well regarded within the company and is seen as a steady hand on the wheel," Butler said but added that she was not seen as a natural to succeed Chambers.
Copyright Thomson Reuters 2012