The world's largest asset manager, BlackRock, owned 272,861,804 Cisco shares according to an October 10, 2011 filing with the U.S. Securities and Exchange Commission (page 38).
That makes BlackRock Cisco's largest shareholder with shares valued at $5.162 billion according to the January 5, 2012 Cisco stock price closing.
Curiously according to its most recently available proxy voting results, BlackRock voted against re-electing Stanford University President, John L. Hennessy, to Cisco's Board of Directors.
"BlackRock generally supports board nominees in most uncontested elections. BlackRock may withhold votes from certain directors on the board or members of particular board committees (or prior members, as the case may be) in certain situations, including, but not limited to:
"Where BlackRock obtains evidence that casts significant doubt on a director's qualifications or ability to represent shareholders.
"Where it appears the director has acted (at the company or at other companies) in a manner that compromises his or her reliability in representing the best long-term economic interests of shareholders.
"Where a director has a pattern over a period of years of attending less than 75% of combined board and applicable key committee meetings."
Although I've inquired, it certainly doesn't appear I'll be getting a specific reason as to why Cisco's largest stockholder, BlackRock, voted against re-electing Standford University President, John L. Hennessy, to Cisco's Board of Directors.
