Microsoft’s beleaguered Nokia to pay outgoing CEO Elop $25 million

“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

29 Comments

  1. 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.

    1. 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?

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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….

    1. 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.

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