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[3]: Comment by Nelson
by Nelson on Tue 24th Sep 2013 17:04 UTC in reply to "RE[2]: Comment by Nelson"
Nelson
Member since:
2005-11-29

People who have no skin in the game pretending they understand what's going on. Nokia even being alive today is proof of how completely clueless some of the commenters here are.

I've predicted volume increases, they've happened. I said they'd live, they did. I said there'd be no profit warning and no channel stuffing, there wasn't. I said the drop in Q2 2012 was a blip, it was. Its like you lose for being right here.

Meanwhile people who are consistently wrong on just about everything Nokia are up voted because people can't get over their MeeGo hardon and Microsoft hatred.

I took a financial bet on my predictions and it paid off, not something I see anyone of the armchair CEOs doing.

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