Cisco doubles salaries of top executives

Cisco Systems, John Chambers, CEO of seeing her go off U.S. U.S. $ 9.2 million $ 18.9 million in fiscal 2010, as the company showed signs of recovering from a fall in the recession-related.

The increase was the result of an increase in the activities of Chambers and option awards and cash bonus, the Wall Street Journal, citing the initial proxy statement for Cisco.

The shares and options were valued at U.S. $ 13.9 million, compared to U.S. $ 6.7 million in fiscal year 2009, Chambers’ pay rose 1.9 percent from a year ago to U.S. $ 382,212. The CEO also noted a U.S. $ 4,600,000 bonus as part of Cisco’s plan cash incentives, the Journal said. He received no such bonus in fiscal year 2009 – receiving, by contrast, U.S. 2,000. $ 000 “discretionary” bonus in cash – and that same year also saw his compensation fall 46 percent U.S. fiscal year 2008 of $ 17.1 million.

“The core philosophy of executive compensation Cisco remains the pay for performance,” said a Cisco representative of the Journal.

Last month, Cisco fell short of revenue expectations for the fourth quarter. At that time, Chambers attributed the lack of economic uncertainty in the quarter, which caused the gun to customers shy about spending. However, the benefits of the company were up 79 percent year over year, and Chambers of Cisco said then that “The strategy and vision is absolutely working. We are gaining market share and revenue growth.”

In fiscal 2010, Cisco’s sales rose 10.9 percent, and net income increased by 26.6 percent from fiscal year 2009, the Journal quoted the representative as saying.