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Guess how much Cisco boss Chambers earns

It's less than you might think...
Written by CNET Networks, Contributor

It's less than you might think...

By Dawn Kawamoto Cisco CEO John Chambers received an annual salary in fiscal 2002 of just $1, according to documents the company filed yesterday with the Securities and Exchange Commission. Chambers also did not receive a bonus and gave back two million of the six million share options he was granted for the period. The options he gave back, along with those he retains, range in strike price from $16 to $20.53 a share. Chambers joins Apple CEO Steve Jobs and former Netscape CEO Jim Barksdale in the $1 club. Jon Holman, from recruitment firm The Holman Group, said: "It's a good symbolic act. It sends a message to shareholders and institutional investors that he won't enrich himself with other people having lost money on the stock. And it sends a message to employees who aren't getting raises either. It's kind of stinky if people in the company are reaping huge bonanzas and the company is not performing." However, Holman noted that given the massive wealth Chambers amassed from Cisco's stock during its huge run-up in the 1990s, he can afford the largely symbolic gesture. Dawn Kawamoto writes for News.com
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