Feeds

Fiorina quits Cisco board

Chambers draws $1 salary (with $85m share options)

  • alert
  • submit to reddit

High performance access to file storage

HP chief exec Carly Fiorina is to ditch her directorship of Cisco later this year, according to a regulatory filing by the networking giant.

Fiorina has decided not to stand for re-election as a Cisco non-executive director and will part ways with the networking giant after its November 11 annual meeting. Both companies say Fiorina's departure, after almost three years on Cisco's board, is amicable.

Although Cisco and HP compete in workgroup LAN switch, with their Catalyst and ProCurve lines respectively, the firms are partners in other market segments. HP resells Cisco's storage switches and services to many of its clients.

Yesterday Cisco also disclosed that its chief executive, John Chambers, received a token $1 salary and no bonus for the second year in succession. But don't fret on his behalf. The Cisco boss received stock options over the last year worth $85 million.

"John himself has stated that his compensation will remain at the $1 level until the market recognizes Cisco's turnaround," said Cisco spokeswoman Robyn Jenkins-Blum told Reuters.

Last month, Cisco reported net sales for fiscal 2003 were $18.9bn, the same as 2002. However net income for 2003 was a much healthier $3.6 billion (FY 2002: $1.9bn). ®

Related Stories

Cisco woe as HP's Fiorina joins board
Cisco boss slashes salary to $1
Cisco Q4 profits up
HP claims IBM price scalp for Cisco storage switches

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.