Technology giant Cisco's chief globalisation officer and executive vice-president Wim Elfrink has received a remuneration of $15.8 million in 2010 fiscal, which is almost double to $8.2 million he received a year ago. The increase was recorded on the back of the rebounce in the technology market from recession and the company's revenue growing 11% to $40 billion and profits 27% to $7.8 billion.
Cisco is the world's largest networking equipment maker, but the company is also expanding beyond its traditional strengths. The firm has ventured into the data centre market, for instance, and is trying to create business models around 'smart cities'.Elfrink is based out of Bangalore and is perhaps the highest-ranking multinational executive to be posted in India. He is the No. 2 executive in Cisco after CEO John Chambers. Elfrink's compensation during the year was second only to Chambers who pocketed $18.9 million.
As chief globalisation officer, Elfrink heads Cisco's globalisation strategy, and as executive V-P, he is responsible for Cisco Services worldwide, a fast-growing business with more than $5 billion in revenues. Most of Elfrink's compensation came in stock & options that were valued at almost at $10 million, up from $5 million in 2009.
He drew a salary of $7,73,762 and 'other compensation' of $3.5 million.
Source : http://in.news.yahoo.com/241/20100915/1274/ttc-cisco-chief-globalisation-officer-ge.html
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