Cisco cuts executive bonuses in downturn: filing
Top U.S. network equipment maker Cisco Systems Inc
Cisco paid executives including Chief Executive John Chambers and Chief Financial Officer Frank Calderoni were awarded significantly lower discretionary incentive payments than in 2008, according to the filing with the U.S. Securities and Exchange Commission.
It also did not pay any bonuses under a separate executive incentive plan that was contingent on the company's financial performance for the fiscal year that ended July 25. Cisco's fiscal fourth quarter revenue fell 18 percent from a year earlier to $8.5 billion.
(Reporting by Ritsuko Ando; Editing by Richard Chang)
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