Published in News

Cisco boss doubles salary

by on01 October 2013

Because he is worth it

Cisco Systems Chief Executive John Chambers' total annual compensation double this year.

According to a regulatory filing, Chambers' compensation rose to $21.05 million in the year ended July 27 from about $11.7 million a year earlier. Sixty-four-year old Chambers has been Cisco's CEO from 1995. During this time the company's stock has risen about six times however the company has not been doing so well lately.

Competition has increased from rivals such as Juniper Networks, Palo Alto Networks and Checkpoint systems. In August it was cutting 4,000 jobs to reduce costs and refocus on growth areas, such as Chamber’s salary apparently.

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