Linked by Thom Holwerda on Tue 24th Sep 2013 11:44 UTC
PDAs, Cellphones, Wireless

Finland is boiling with rage this weekend over the $25 M bonus payment the CEO Stephen Elop is set to receive as he leaves Nokia after his two-year tenure. Questions are now being raised by the oddest aspect of the bonus: the board of Nokia seems to have given Elop a $25 M incentive to sell the handset unit cheaply to Microsoft way back in in 2010. This effectively means that the board hired a man who was given a giant carrot to drive down Nokia's overall valuation and phone volumes while preparing a sale to Microsoft. What could possibly be a reason to structure Elop's original contract in this manner? Did the board in fact end up promising Elop more compensation in case he sells the phone division than if he runs it with modest success?

Vindication. We were right all along.

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Criminal?
by christian on Tue 24th Sep 2013 12:01 UTC
christian
Member since:
2005-07-06

I fail to see how any of this is legal. I hope Nokia share holders block the sale (if they can) and/or a criminal investigation for espionage started.

Of course, IANAL etc.

Edited 2013-09-24 12:02 UTC

Reply Score: 19