Cisco CEO John Chambers gets 80% raise

[unhappycamper]

http://money.cnn.com/2013/09/30/technology/enterprise/cisco-john-chambers-raise/index.html?iid=HP_River



Cisco CEO John Chambers scored $21 million in total compensation in the company's fiscal year 2013.

Cisco CEO John Chambers gets 80% raise
By Julianne Pepitone
September 30, 2013: 7:12 PM ET

NEW YORK (CNNMoney) A massive stock award announced Monday propels Cisco CEO John Chambers into the upper tier of high-paid tech CEOs.

In a regulatory document filed late Monday, Cisco revealed that Chambers received $15.2 million worth of stock awards for the company's fiscal 2013 -- nearly double the $7.3 million he scored in 2012.

Cisco (CSCO, Fortune 500) didn't specify the reasons behind the huge increase. The company was more clear about the reason for an increase in another piece of his compensation package: a salary boost to $1.1 million from $375,000.

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While Cisco has generally posted decent financial results in recent quarters, the company was forced to announce 4,000 job cuts during its report in August. Shares are down 3.7% over the past three months but up 19.3% year to date.

[zazen]

1. this would be illegal in any decent society n/t