Stephen Elop to earn $25.4 million to return to Microsoft

Stephen Elop to earn $25.4 million to return to Microsoft
Stephen Elop is already a very rich man, and given that he has the inside track on being the next Microsoft CEO, he will undoubtedly continue to make gobs and gobs of money before his career is over. Even so, Elop is set to earn a hefty chunk just for being part of the acquisition of Nokia's devices unit by Microsoft. According to a new filing, Stephen Elop is owed €18.8 million (~$25.4 million) in order to return to Microsoft.

This isn't much compared to the $7.17 billion paycheck Nokia will be receiving from Microsoft, but Nokia isn't going to be responsible for the majority of the payment. Microsoft is said to be taking care of about 70% of the payment to Elop. The majority of the payment will be paid in stock. The filing says that €4.1 million (~$5.6 million) of the payment comes from salary and bonuses and the other €14.6 million (~$19.8 million) in stock awards. 

The filing also says that Nokia has scheduled the general meeting to vote on the Microsoft acquisition for November 19th. There is little worry that the deal will not be approved, but some in Finland are saying that Microsoft should be paying more for Nokia, the idea being that despite the company's fall in the market over the last few years, Nokia has been one of the biggest mobile phone makers.

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32 Comments

1. Tsepz_GP

Posts: 1126; Member since: Apr 12, 2012

Payment for ruining a great company.

9. LetsBeHonest

Posts: 1548; Member since: Jun 04, 2013

"There is little worry that the deal will not be approved" what does this mean??? So is there still hope ??? I read an article in gsmarena that nokia still continue working on an Android smartphone(prototype).

10. varuntis1993

Posts: 49; Member since: Jun 13, 2012

There is still hope because Nokia shareholders haven't approved the deal.....an extraordinary general meeting is to conducted by Nokia in the month of November for shareholder's approval.....I just hope that they don't agree for it.

12. LetsBeHonest

Posts: 1548; Member since: Jun 04, 2013

Thanks buddy thx for the info.

17. -box-

Posts: 3991; Member since: Jan 04, 2012

The deal also has to pass US and EU regulatory approval.

33. downphoenix

Posts: 3165; Member since: Jun 19, 2010

indeed. I cant think of many men that has conned a group of intelligent investors and board members as well as Elop has done. Nokia could have possibly regained their #1 phone maker status if they didnt sell their soul to Microsoft and did a huge revamp of their software or went with Android instead.

2. rms.max

Posts: 95; Member since: Sep 26, 2012

Elop is either traitor or d***a**.He was CEO of nokia but worked for M$.a trojan horse..yaa.. nokia's board members were foolish enough to trust him.a lesson for everybody.

3. akki20892

Posts: 3902; Member since: Feb 04, 2013

That's a good shot buddy, I agree.

5. rms.max

Posts: 95; Member since: Sep 26, 2012

If Elop was a trojan horse,M$ should make him their CEO.But IF he is a foolish d***a** ,then M$ should not.Who knows he may end up selling M$ to apple.Last one was a joke. :D

11. LetsBeHonest

Posts: 1548; Member since: Jun 04, 2013

"He's a spy. Captain, he is "The" spy. His secrets have secrets." Tony stark (avengers)

22. RaKithAPeiRiZ

Posts: 1488; Member since: Dec 29, 2011

"Elop to base , Elop to base , target is down and secure ...over !!!" Steve Ballmer - "Good job Mr Elop , your $25 million will be sent to your account in Geneva and we will be sending a team to extract you to base in 0300hrs...over " Elop -Roger That!! END OF TRANSMISSION RADIO SILENCE

32. Diego!

Posts: 854; Member since: Jun 15, 2009

RMFAO xD

4. Ravail

Posts: 182; Member since: Oct 14, 2011

I guess idiots can become millionaires.

15. papss unregistered

Do you watch tv? How does being an idiot have anything to do with being a millionaire? Watch reality tv and ask that again.

31. Pancholo

Posts: 380; Member since: Feb 27, 2012

But, but, but... the majority of faces in reality TV shows are idiots.

7. tedkord

Posts: 17085; Member since: Jun 17, 2009

Awesome. $25 million for digging the last few feet of Nokia's grave. This is why people distrust big business. CEOs get rewarded no matter how poor a job they do.

8. amasog

Posts: 552; Member since: Aug 22, 2013

he's returning to microsoft, because he's mission has been accomplished.. & that mission? bring nokia with him on his return! LOL! now i am moving away from nokia, xperia Z1 is on my radar..

13. roldefol

Posts: 4744; Member since: Jan 28, 2011

Obviously Microsoft thinks he did a good job. He delivered them a respected, popular, high-quality phone manufacturer just when MS needed one. He's the devil to Nokia fans, but inside MS, he must be a freakin' god.

14. papss unregistered

For heavens sake... He had little to do with the whole transaction.. In fact it was Risto S. The chairman that did most of the talks. Also Elop can't and couldn't make any of the decisions without the board BUT I'm sure you all would rather cry that it was just Elop. This whole idea that he was the one that killed Nokia is complete nonsense and almost comical if you had any idea how a company is ran and the structures.

19. tigermcm

Posts: 861; Member since: Sep 02, 2009

thank you for making sense. unfortunately the majority of those that comment forgot the ceo is the face of the company and the board makes the decisions

24. Penny

Posts: 1844; Member since: Feb 04, 2011

Yep, you make sense. However, I would note that a CEO is usually the company's best evangelist, and therefore often capable of selling even the board on ideas that he/she wants to see pass.

16. Antonyjoseph

Posts: 217; Member since: Apr 06, 2013

Elop the Mole, Elop the termite. Destroys Nokia and hands it over to MS for Peanuts. Anyone who brokers such a deal will obviously get a good commission.

18. robinlim85

Posts: 86; Member since: May 03, 2013

if the deal fail through and nokia ditch elop to build new nokia android phone,nokia share will soar 10 time the price now,take my words for that

20. AfterShock

Posts: 4146; Member since: Nov 02, 2012

Haha that's a first isn't it,.... asking for the horse back.

21. Furbal unregistered

If his decisions are proven to have been in favor of devaluing stock so it can be bought cheaper, he needs to go to jail for a long long time.

23. charles007

Posts: 2; Member since: Sep 03, 2013

the trojan effect..

26. ANANDALTER

Posts: 124; Member since: Feb 07, 2013

PLEASE BOYCOTT THIS ID*@#T AND ST*&#@ MS COMPANY

27. ANANDALTER

Posts: 124; Member since: Feb 07, 2013

I AM BUYING Z1

28. JunkCreek

Posts: 407; Member since: Jul 13, 2012

Eloop... U busturd...

29. SIGPRO

Posts: 2810; Member since: Oct 03, 2012

Elop was a trojan horse, i hope the shareolders dont agree with the takeover! Nokia complained many times that MS was really slow updating WP and lacked of apps. I think this was just a setup so that Nokia would go down and MS could buy it at a cheap price. Nokia should dump MS and continue with their one path even if it means that for now they will have phones with Android. And Nokia should have kept Meego! Maybe they can use Sailfish OS, because Sailfish will be the next big thing!

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