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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RE: Comment by Nelson
by galvanash on Tue 24th Sep 2013 14:03 UTC in reply to "Comment by Nelson"
galvanash
Member since:
2006-01-25

I'm glad I ignored the endless piles of bullshit here and loaded up on Nokia stock while it was low, made a nice return.


But of course, the small minds here are allergic to common sense and don't own any Nokia stock, never shorted any Nokia stock...


Um, maybe because this isn't an investment forum? If your argument is and has always been ultimately about market performance, why didn't you just say so like months and months ago? You would have gotten a lot less heated arguments over your opinions, because frankly very few people here care one wit about Nokia's stock price...

I for one would not have argued that what Elop did wouldn't net a modest return for share holders - my problem with it is they dismantled a once great company without ever really even trying to compete on their own terms.

Everyone is having some fun right now at the expense of BlackBerry because they failed miserably. They did, they took too long and they delivered too little - but at least they went out on their own sword, not with someone else's dagger in their back.

From a purely financial perspective I actually think that Nokia may well have gone the right route - there is a very good chance they would have failed badly and ended up in far worse shape than they are in now. But then again I don't have stock in Nokia, so I don't much care.

If you think most of the opinions on this forum are about stock market performance your really missing the forest through the trees...

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