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After Discussions with CBIS, Cisco to Adopt "Say-on-Pay" in 2010
Cisco has announced that it will institute a shareholder advisory vote on executive compensation ("say-on-pay") in 2010.
CBIS has engaged with Cisco for six years on issues of executive compensation. In its press statement (below), the company highlighted the “thoughtful dialogue” with CBIS, an important testament to the ability of faith-based investors to positively influence corporate behavior.
To learn more about our engagement with Cisco, visit the Shareholder Advocacy Directory.
Cisco Board Announces Advisory Vote on Executive Compensation
SAN JOSE, CA--(Marketwire - 07/28/10) - Cisco (NASDAQ:CSCO) today announced that its board of directors will offer a shareholder advisory vote on executive compensation during its next annual meeting scheduled for November 18, 2010. At the meeting, shareholders will be given the opportunity to provide input on the compensation of named executive officers by casting a non-binding vote.
Cisco collaborated with shareholders, governance advocates and peer companies to develop its approach to the advisory "say-on-pay" vote. The company acknowledges thoughtful dialogue with Christian Brothers Investment Services, Inc. and other shareholders following approval of a shareholder proposal in 2009. Cisco joins a number of other companies, including several of its peers in the technology industry, in implementing this measure.
About Cisco Systems
Cisco (NASDAQ:CSCO - News), the worldwide leader in networking that transforms how people connect, communicate and collaborate, this year celebrates 25 years of technology innovation, operational excellence and corporate social responsibility. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
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