Cisco Systems, Inc. (CSCO, Financial) has announced the appointment of Kevin Weil, Chief Product Officer of OpenAI, to its Board of Directors, effective May 12, 2025. The Board has determined that Mr. Weil is "independent" under the applicable listing standards of The Nasdaq Stock Market LLC. The specific Board committees on which Mr. Weil will serve have yet to be determined.
In his role as a non-employee director, Mr. Weil will receive Cisco’s standard compensation package, which includes a pro rata portion of the $105,000 annual cash retainer, paid quarterly. Directors have the option to receive this compensation in cash, fully vested shares of Cisco common stock, deferred stock units, or a deferred cash payment under the Cisco Systems, Inc. Deferred Compensation Plan.
Additionally, Mr. Weil has been granted a fully vested initial equity award under Cisco’s 2005 Stock Incentive Plan, with a grant date fair value proportionate to his term of service for the year. Non-employee directors, including Mr. Weil, are eligible to participate in Cisco’s charitable matching gifts program, with a maximum match amount of $25,000 for the calendar year 2025.
Mr. Weil has also entered into Cisco’s standard Indemnity Agreement, which provides indemnification to the fullest extent permitted by law. This strategic appointment is expected to bolster Cisco's leadership with Mr. Weil's extensive experience in product development and innovation.
Should you invest in Cisco Systems Inc (CSCO, Financial) right now? Before you do it, it’s important to understand the business profitability and stock valuations, and find out what the warning signs are about. See the in-depth Cisco Systems Inc (CSCO) stock research here.
