AP News

News Summary Cisco CEO's pay package dipped 9 pct


PAY TRIMMED: Cisco Systems Inc. trimmed CEO John Chambers' pay package for the past fiscal year by 9 percent to $11.7 million as concerns about growth at the maker of computer networking equipment weighed on the company's stock.

FUTURE LINK: Most of Chambers' pay was tied to the future performance of Cisco's stock. That's been the case for most of Chambers' 17-year reign as CEO. Adjusting for stock splits, Cisco's shares have increased 10-fold under his leadership.

STOCK OFF: The last fiscal year ending July 28, however, wasn't good to Cisco's stock. It fell 2 percent.


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