Summary
Cisco Systems, Inc. (CSCO) announced on January 27, 2020, the appointment of Dr. Lisa T. Su to its Board of Directors, effective immediately. Dr. Su brings significant leadership experience as the President and CEO of Advanced Micro Devices, Inc. (AMD), a prominent player in the semiconductor industry. Her appointment is expected to strengthen Cisco's board with her expertise in technology and corporate strategy. Dr. Su will receive standard compensation for non-employee directors, including an annual retainer and an initial equity award, both prorated for her service period through the 2020 annual meeting. Directors have flexibility in how they receive compensation, with options for cash, stock, or deferred units. She will also enter into Cisco's standard director indemnification agreement, which is customary for board members.
Key Highlights
- 1Dr. Lisa T. Su, President and CEO of AMD, appointed to Cisco's Board of Directors, effective January 27, 2020.
- 2Dr. Su's appointment is expected to enhance the board's expertise in the technology sector.
- 3Compensation for Dr. Su will align with Cisco's standard non-employee director compensation package.
- 4She will receive a prorated annual cash retainer of $80,000 and a prorated initial equity award with a grant date fair value of $230,000.
- 5Directors have options to receive compensation in cash, Cisco common stock, or deferred stock units.
- 6Dr. Su will be covered by Cisco's standard director indemnification agreement.
- 7The filing does not specify which board committees Dr. Su will join, if any.