Nokia due to compensate its CEO Stephen Elop with more than $6 million for leaving Microsoft

Nokia due to compensate its CEO Stephen Elop with more than $6 million for leaving Microsoft
The total sum that Nokia is due to pay its current CEO Stephen Elop over his move from Microsoft to the Finnish giant is more than $6 million, Nokia's annual 20-F form shows.

According to the filing, Nokia already paid Elop $3.18 million as a compensation for lost income, and is scheduled to pay a further $3.0 million in October 2011.

Furthermore, as a CEO of Nokia, Elop has a base salary of $1.45 million per year.

Stephen Elop has been a Nokia CEO for mere months, but these are arguably some of the most turbulent times in Nokia's history, which is almost century and a half long. Since his appointment, it was announced that Nokia is to make Windows Phone its principal smartphone strategy, and that its main OS at that time - Symbian - is not part of the Finnish company's long-term plans. As for MeeGo, Nokia announced that from now on it's to be developed as a side project.

source: Reuters

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11 Comments

1. LolNokia unregistered

The Trojan horse is gobbling up funds!

2. Marvan unregistered

I wonder why they pay him for having changed company ... he has not !! But I am sure a lot of current Nokia's employees will have to do that quite soon ...

3. James Dang

Posts: 16; Member since: Oct 24, 2009

I don't know why Nokia is paying this "Trojan Horse of Microsoft" as what that Eldar Mutadzin in Mobile-Review. He did a lot of thing that destroying Nokia than improve the company performance. Symbian is at the end of the age and Nokia should use IOS in their OS compare to Window Phone 7 or Android. Window phone 7 os is a shitttt..... If Nokia CEO is Steve Jobs it is worth it to pay that kind of salary or more.

5. Razor unregistered

Your just talking a lot of s**t. What other handy out there do you know that runs on IOS aside from the idevices. So daft making such a daft statement.

6. Lucas777

Posts: 2137; Member since: Jan 06, 2011

u r wrong... wp7, while not to high end users, could be the cheap but good smartphone os lower end users want. Those people dont want android, they want a simple os. This will either be nokia if it can materialize quick enough or apple, although i assume the former since apple has not capitalized on the cheaper iphone

4. downphoenix

Posts: 3165; Member since: Jun 19, 2010

Stephen Elop apparently knows a sinking ship when he sees one. Symbian is a burning platform, Windows 7 is here and now and hip and attracting app developers. Nokia fanboys should go cry themselves to death in the gutter if they dont want to adapt to change that's good for the company.

7. TKFox007

Posts: 303; Member since: Nov 02, 2010

He has a yearly salary of 1.45 million? Oh yeah he really NEEDS another 6 million.

8. myclevername

Posts: 94; Member since: Jun 07, 2010

It's a crime the way Elop forced himself into the Nokia boardroom (probably with a gun) and forced the board of directors to hire him and give him all this money. Nokia was gaining market share like crazy and was the fastest growing phone OS in the world until Elop came along. And now he's getting $6 million! He's single handedly not only duped the entire Nokia board of directors but possibly the whole country of Finland! Now Google and Apple are going to start gaining market share as this madman drives Nokia into the ground.

9. Lucas777

Posts: 2137; Member since: Jan 06, 2011

i must say u r wrong... nokia share was crashing and when he came it rose... it has been on a steady downfall already..

10. myclevername

Posts: 94; Member since: Jun 07, 2010

I know. I was being sarcastic all the way around.

11. Lucas777

Posts: 2137; Member since: Jan 06, 2011

my bad... didnt seem very sarcastic

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