Cisco CEO John Chambers' salary almost doubled

Reuters

Sept 30 (Reuters) - Cisco Systems Inc ChiefExecutive John Chambers' total annual compensation almostdoubled, the world's biggest network equipment maker said in aregulatory filing.

Chambers' compensation rose to $21.05 million in the yearended July 27 from about $11.7 million a year earlier.

Sixty-four-year old Chambers has been Cisco's CEO from 1995.During this time the company's stock has risen about six times.

But Cisco has been losing ground in the network securitiesmarket for the past few years as competition increased from moreinnovative rivals such as Juniper Networks Inc, PaloAlto Networks Inc and Checkpoint systems Inc.

Cisco said in August it was cutting 4,000 jobs to reducecosts and refocus on growth areas.

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