“Nokia Corp. says it will pay outgoing CEO Stephen Elop a compensation package of some $25 million (19 million euros) when he leaves the company to move over to Microsoft,” The Associated Press reports.
“In proxy statements to shareholders published Thursday, the Finnish company says the amount includes Elop’s base salary and equity awards of about 14.6 million euros,” AP reports. “”
Read more in the full article here.
MacDailyNews Take: Rewarding failure is not a sound foundation for the future.
May Stephen Elop be named Microsoft’s next CEO!
[Thanks to MacDailyNews Reader “silverhawk1” for the heads up.]
Related articles:
Buying Nokia does not help Microsoft become more like Apple – September 3, 2013
Beleaguered Nokia to sell handset business to Microsoft for $7.2 billion – September 3, 2013
Beleaguered Nokia reports lower-than-expected revenue, Needham downgrades – July 18, 2013
Microsoft and Nokia can’t hide from the very, very ugly truth: Windows Phone is failing miserably – July 18, 2013
Nokia’s Stephen Elop: The worst CEO of all time – June 28, 2013
If Elop becomes CEO…that would be EPIC!
For as long as it takes.
Looks like M$ is getting their comeuppance for what they did in the 90s. The sad thing, though, was that Nokia actually made great phones in that decade Nokia was one of the innovative companies of the 1990s, and their phones, and, eventually smartphones were great. It wasn’t until Windows Phone 7 that they started to go downhill. It was a royal mistake to ditch Symbian.
He has done nothing to help Nokia. And he gets $25million!!!? Nice.
Since when is it the function of a CEO to help out anybody but himself and his personal financial consultants? Elop won the game, and thousands of hardworking folks in Finland, who played by the rules and did everything that was ever asked of them, got screwed.
The corporation is nothing but a modern interpretation of the medieval fiefdom — except today the masses are kept in line not with hypocritical religious ritual (not the western educated ones with a measurable IQ and inquisitive minds, anyway) but today the masses are satiated with cheap imported disposable plastic junk and even cheaper mass media.
After all, lowest-common-denominator mass market consumerism, no matter how unsustainable, is just like actually having freedom, right?
Unfortunately corporations are all to willing to reward incompetent Executives who are paid more money in a year than most employees earn in a life time. While claiming we are to poor to give rank and file employees a raise.
There is a big outcry about this affair here in Finland right now partly enhanced by the fact that it’s actually M$ who will pay a whopping 70% of this 19 million euro bonus …further increasing the speculations that EFlop was nothing but a Microsoft trojan horse which has been pretty clear for most ppl ages ago.
So he got a nice salary for his brief stay at Nokia, even nicer bonus and now he is going back to MS to a chief position – not bad, not bad at all.
Crazy. Elop is only “leaving” Nokia, because Microsoft bought Nokia’s mobile phone business, which I’m sure he orchestrated. And he’s going to Microsoft, not getting laid off, so he’s not actually “leaving” anything.
Well, that’s fine. It’s another $25M out of Microsoft’s pocket.
You are one of the few here that makes sense. If I wanted an iOS rip off, then I would have bought a Fragmandroid. I don’t want a Fragmandroid, and I won’t be downloading AndroiOS 7 to my phone.
Aww, like two peas in a pod..
Awwww, I see special things in the future for BLN and Flloyd.
Could they be twins from the same scrotum?
BLN Go troll ON SOME OTHER INTERNET!!!!
IOS 7 is a beautiful piece of design, with lots of new features that will excite and interest MOST people, but not you because, as Steve Jobs said, you have NO taste.
None. Your screen name tells us that.
You are about 47.
Divorced.
Ex-IT guy.
Overweight by about 60 pounds.
Functioning alcoholic.
American.
White.
Sit in a Laz-E-Boy in the evenings.
Drink cheap beer.
If this ISNT accurate about BLN, then it will be….
You let out one nut missing. lol
I completely agree! … but you left out:
Sexist
Misogynistic
Homophobic
And to quote Steve Jobs’ description of Microsoft, he has ‘absolutely no taste’.
These idiots are trolling about iOS 7 when they haven’t even tried it for a week or two. Pathetic.
I’ve read that Elop was tasked secretly by Msft and some Nokia Board Members to make Nokia a fit purchase for Msft.
He straight away cancelled Symbian (best selling smart phone OS) which was still selling strong , cancelled Meego etc to go whole hog into untested Win Phones. Critics say he was supposed to also knock Nokia’s price down BUT he did too great a job knocking and completely wrecked Nokia,
All that time he still had a home near Ballmers and they would meet secretly whenever he was ‘home’ from Finland,
(If such a thing happened in the USA I suspect they would have got a freaking big lawsuit from shareholders and fired Nokia workers)
Yea, he was a corporate mole.
I need to get me one of those jobs. I can ruin a company just as good as him and I’ll settle for $15 mil. Now that’s a deal!
Heck, I’ll do it for 1 million and I can ruin it faster than him!
I’ll do it for $25 million and save some value by breaking up Microsoft into multiple companies, so Ballmer & Eflop can’t ruin them all.
The Board of Directors has to start pushing their weight around or MS will degrade painfully until then.
Be rich like Elop, where failure is a PLUS!
There is some jackoff who works under a pen name (DaveA2) for the Koch brothers that responds to letters in the Milwaukee Journal who would say this about this ridiculousness: “No one cares how hard you work, the only thing that matters is the results produced… Again, basic economics… Value, not effort, is what counts..” Based on his theory, Elop apparently brought some value to somebody and the poor suckers who have lost their jobs and those who will lose their jobs were of no value despite their hard work. Yah, capitalism is a great system if you are fortunate enough to bring value even if you are a dumb shit!
Better yet, forget capitalism. Being a dumb shit politician is where it’s at! Where in capitalism can one say regarding the deaths of four people, “At this point, what difference does it make.” and not be held liable for their inactions and incompetency and whose coronation is expected in 2016, because we had a black man as President, now “it’s time” for a woman! Regardless if they can’t answer the phone at 3 am. It’s great, if you disagree with the black man your a racist and is you disagree with the woman you’re a misogynist perpetrating a “War on Women”! It’s beautiful man, just beautiful and a great gig if you can get it!
Yes seems being in either BIG business or BIG government gets you not only a golden parachute but a golden landing pad to boot.
As MDN points out, in our era of self-destructive biznizz bozoids, isn’t it astonishingly self-congratulatory how worthless POS businesses get bailed out then throw a party? This is how capitalism dies and the neo-feudal global biznizz hell rises. Mighty sick excremental behavior.
On the other hand:
Spend Microsoft! Spend SPEND SPEND!!! Spend until you can’t spend no more. Then die.
Operation: “Kill Nokia”
Time: 2-3 years
Agent Name: Elop
Aim: Destroy Nokia Development Team and Symbian Platform
Status: FULL SUCCESS
Reward: 25.000.000 USD
It’s time to knock Elop down a bar, which makes him “Flop”.
I don’t think it’s failure. It’s not just success. But that is hard. That why we only got two big players so far, which is bad.