Relatives of Cisco SVP Rebecca Jacoby separate Cisco from $37.389 million"A sister of Senior Vice President and Chief of Operations, Rebecca Jacoby... $1.24 million... A brother-in-law of Rebecca Jacoby... $35 million... A sister-in-law of Rebecca Jacoby... $1 million..."
I mean, you just can't make this kind of crazy stuff up, it's totally amazing!
Tallahassee, Florida: Wed, 9/30/15 - 11:59pm View comments
Update: October 1, 2015 - 9:00PM
Business Insider: The sister of Cisco's star executive Rebecca Jacoby earns over $1 million a year from Cisco — and Rebecca is now her boss
Update: October 1, 2015 - 8:34AM
Network World: For Cisco, it's all in the family
According to Cisco's DEF14A filing with the SEC today (page 63):
"Certain Transactions with Related Persons
"A sister of Senior Vice President and Chief of Operations, Rebecca Jacoby, is employed by Cisco as a vice president of global business services based in California.
"Ms. Jacoby's sister received total compensation of approximately $1.24 million for fiscal 2015, calculated in the same manner as in the Summary Compensation Table.
"The total compensation includes salary, non-equity incentive plan compensation, stock awards and other compensation. Pursuant to a recent reorganization, beginning in fiscal 2016 Ms. Jacoby's sister currently reports indirectly to Ms. Jacoby.
"To avoid any conflict of interest, Cisco appointed an independent person outside of Ms. Jacoby's organization to handle decisions relating to her job duties and assignments, compensation and job performance evaluations."
Cisco's DEF14A filing continued:
"A brother-in-law of Rebecca Jacoby was employed by Cisco as a program manager in Cisco's supply chain organization during a portion of fiscal 2015. Ms. Jacoby's brother-in-law received total compensation of approximately $149,000 for the portion of fiscal 2015 during which he was a Cisco employee, calculated in the same manner as in the Summary Compensation Table. The total compensation includes salary, bonus, non-equity incentive plan compensation and other compensation.
"Beginning in fiscal 2016 he is employed as a Cisco account manager for a company which provides contingent technology workers to Cisco in organizations not reporting to Ms. Jacoby. Cisco made payments to that company of approximately $35 million for the contingent technology workers for fiscal 2015."
Cisco's filing also included:
"A sister-in-law of Rebecca Jacoby is employed as an account executive by a company which provides management consulting services to Cisco.
"Ms. Jacoby's sister-in-law was directly involved in transactions between Cisco and her employer for which Cisco paid a total of approximately $1 million during fiscal 2015, although her interest in those transactions was less than $120,000. Ms. Jacoby had no direct involvement in these transactions."
I mean, you just can't make this kind of crazy stuff up, it's totally amazing!
Related document:
Cisco DEF14A filing - page 63
Related stories:
Business Insider: The sister of Cisco's star executive Rebecca Jacoby earns over $1 million a year from Cisco — and Rebecca is now her boss
Network World: For Cisco, it's all in the family
