What is Cisco Systems Corporate Governance policy?
Investor confidence in public companies is essential to the functioning of the global economy. Our corporate governance policies provide a framework for the proper operation of our company, consistent with our shareholders' best interests and the requirements of the law. We are committed to providing financial information that is transparent, timely, complete, relevant and accurate. We are also committed to rigorously and diligently exercising our oversight responsibilities throughout the company, managing our affairs consistent with the highest principles of business ethics, and exceeding the corporate governance requirements of both federal law and the NASDAQ.
In our financial accounting and reporting practices, we are dedicated to ensuring that the high standards we have established are maintained. Our culture demands integrity and an unyielding commitment to strong internal practices and policies. We have the highest confidence in our financial reporting, underlying system of internal controls and our people, who are objective in their responsibilities and operate under the highest level of ethical standards. We value the confidence that our investors place in us. To read more about our corporate governance policies, please click here.
Does Cisco Systems have a Code of Conduct for employees?
This Code of Business Conduct is monitored by Cisco's Ethics Program Office and is annually affirmed by our employees. This Code of Business Conduct applies to all employees of Cisco Systems, Inc. and its subsidiaries (collectively referred to as "Cisco") and to the members of Cisco's Board of Directors. This Code of Business Conduct has been designed to deter wrongdoing and to promote:
Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships
Full, fair, accurate, timely, and understandable disclosure in reports and documents that Cisco files with, or submits to, government agencies and in other public communications
Protecting Cisco's confidential and proprietary information and that of our customers' and vendors'
Compliance with applicable governmental laws, rules and regulations
The prompt internal reporting of violations of this code
Accountability for adherence to this code
We believe that long-term, trusting business relationships are built by being honest, open and fair. We promise to uphold the highest professional standards in all global business operations. We also expect that those with whom we do business (including suppliers, customers or re-sellers) will adhere to the standards set by Cisco's Code of Business Conduct. To read our full Code of Business Conduct, please click here.
What is Cisco's policy regarding U.S. export law compliance?
Cisco Systems does not in any way participate in the censorship of information by governments. Moreover, Cisco complies with all U.S. Government regulations which prohibit sale of our products to certain destinations; or to users who misuse our products or resell them to prohibited users.
Some countries have chosen, as a matter of national policy, to restrict or limit access to information on the Internet to its citizens. The router functionality that may be employed by such nations to restrict this access is the same functionality that libraries and corporate network administrators use to block sites in accordance with policies that they establish. Whereas this functionality can be used for many different purposes, Cisco has not specially designed or marketed products for any government, or any regional market, to censor Internet content from citizens.
Cisco cannot determine what sovereign nations regulate and don't regulate in their own countries. Even within nations that have signed the United Nations Global Compact there is rich debate in the courts and in society, about access to the Internet, lines between commercial speech and political speech, and related issues. Cisco supports transparency in the way the Internet is used and complies with applicable regulations.
Does Cisco have a senior executive compensation recoupment policy, or "clawback" policy?
Cisco has adopted a senior executive compensation recoupment policy. This policy is:
In the event of a restatement of incorrect financial results, the Compensation and Management Development Committee (the "Compensation Committee") will review all cash incentive awards under the Executive Incentive Plan ("bonuses") that were paid to executive officers (within the meaning of Rule 3b-7 of the Securities Exchange Act of 1934, as amended) for performance periods beginning after July 28, 2007 which occur during the restatement period. If any such bonus would have been lower had the level of achievement of applicable financial performance goals been calculated based on such restated financial results, the Compensation Committee will, if it determines appropriate in its sole discretion, to the extent permitted by governing law, require the reimbursement of the incremental portion of the bonus in excess of the bonus that would have been paid based on the restated financial results.
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