Cisco CEO Compensation Almost Doubles to $21.1 Million The CEO of Cisco Systems Inc (CSCO), Mr. John Chambers, has been awarded $21.1 million for the company’s new fiscal year.
This amount is doubled the salary he received last year. Mr. Chamber, who is aged 64, was expecting his salary of $1.1 for the year ending in July. Earlier on, he had his initial salary of $375,000 and this was very low as compared to his last year ($1.1) and current ($2.1) salary.
The CEO, Mr. Chambers got a $4.7 million bonus. Before that, he got a bonus of $3.95 million. Mr. Chambers has also got a $15.2 million value of the stock of the company which has been raised from $7.35 for him. That is, he has been awarded the double valued stock of the company.
In a recent statistical survey, Cisco’s revenue has been estimated at $48.6 billion. This amount is high above the targeted revenue for the last year by the company. The net income of the company has increased to $9.98 billion which is a 24 percent increase from the last year amount. It is also noticeable that Chambers has stated that he will retire from the company till 2014.
While Cisco’s worldwide accomplishments and innovative products are serving to strengthen positive outcomes for the company, the world’s leading manufacturer of computer-networking and equipment is eradicating employment as profit margins come under pressure from lower-cost rivals, as well as an expansion into less-profitable business such as servers.