Qualcomm Inc.'s Executive Chairman Paul Jacobs -- who stepped down as company CEO in March -- drew criticism over his large pay package on the Motley Fool website on Tuesday, which noted that his compensation package of nearly $40 million during the last fiscal year was twice as high as the head of Cisco, whose company generated twice as much in revenue.
In the past year, Cisco (Nasdaq: CSCO) generated $48.6 billion in revenues compared to $24.9 at Qualcomm (Nasdaq: QCOM), but Cisco CEO John Chambers took in much lower pay, totaling $16.8 million.
Paul Hodgson, a corporate governance consultant who writes for Motley Fool, noted that much of Jacobs’ compensation was tied to stock options from 10 years ago.
Since then, the value has doubled in price, accounting for $20 million of Jacobs’ compensation last year, compared to the $11 million that Chambers received.
Hodgson suggested that it is time to rethink such huge options package and that both companies should check to see whether they’re getting what they are paying for.
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