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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by Hiev on Tue 24th Sep 2013 17:28 UTC
Hiev
Member since:
2005-09-27

First of all, Nokia was already a mess when Elop arrived, Nokia was to incompetent to build a toolkit and displace the iPhone, they didn't want to use Android, they went from GTK to Qt and that sucked also, mainly because GTK is not friendly and Qt was alpha quality on mobile, so they had to fix that first and it took them to much time, so they needed a toolkit recognized and friendly that was not Android, Elop proposed Windows the sharehloders agreed, end of story.

The lack of a quick reaction killed Nokia, not Elop.

Edited 2013-09-24 17:32 UTC

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