Cisco boss CEO John Chambers will receive a bonus of just
over $2m this year.
Cisco said directors will have to get by on sharply reduced
bonuses because they failed to match previous years' performance at
the network firm.
Filings with the Securities Exchange Commission late last week
showed that Cisco CFO Frank Calderoni will receive $900,000.
Chief globalisation officer Wim Elfrink gets $1m, and operations
boss Randy Pond takes home $900,000. Former worldwide operations
head and now executive advisor Richard Justice receives
$750,000.
Robert Lloyd, who took over from Justice, receives a
discretionary cash incentive award of $900,000 "because he did not
become an executive officer until the fourth quarter of the fiscal
year".
Cisco' board said the bonuses were substantially down on last
year, but were paid to reward "the company's solid financial
performance during a period of tough economic challenges, and each
individual's key role in driving operational excellence and strong
profitability".
For the fist nine months, Cisco's sales fell from $29.2bn to
$27.6bn, with net income down $1bn from $6bn to $5bn.