Feeds

Cisco shareholders win say-on-pay

Shake tiny fists at big wallets

Top 5 reasons to deploy VMware with Tegile

Cisco shareholders have narrowly approved a right to shake their tiny fists at the company's executive payroll.

The networking equipment giant is the latest tech vendor to be enamored by "say-on-pay" schemes amidst public outrage over enormous corporate potentate payouts in the crap economy.

Notables like Microsoft, Apple, and Verizon have already given themselves the right to dispense advice on executive wallet sizes.

Cisco's narrowly approved say-on-pay plan would allow shareholders to cast a non-binding vote on compensation of senior executives each year. The deal was put to a vote during the company's annual shareholder meeting on Thursday, but the results were declared "too close to determine" and left out of preliminary vote results.

Thirty-four per cent of shares outstanding voted in favor of the proposal, with 32 per cent opposing. The remaining votes abstained.

Even though the scheme is non-binding and arguably toothless, Cisco executives were unsurprisingly against it. The company said in a statement that the measure is unnecessary because shareholders already have more effective ways to communicate their views on executive compensation "through regular discussions with management" and the compensation committee of the board of directors.

"Given the many different facets of compensation policy, a simple, non-binding vote does not provide guidance as to any issues that may be of concern to shareholders," it stated.

The resolution was proposed by Christian Brothers Investment Services, a group with nearly 1.2 million shares of Cisco.

"This majority vote by Cisco's shareholders sends a clear message. The onus is now on Cisco to take a leadership stance and enact Say on Pay before federal legislation mandates such policies for all public corporations," said Julie Tanner, assistant director of investing at CBIS.

Co-sponsors of the resolution include other religious investment orgs such as the Interfaith Center on Corporate Responsibility, Community Church of New York, Sisters of St. Francis of Philadelphia, and Sister of the Holy Names of Jesus and Mary US Ontario Province. Who knew networking supplies was so popular with Christian groups? ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.