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 christian on Tue 24th Sep 2013 12:01 UTC
Member since:

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

RE: Criminal?
by Morgan on Tue 24th Sep 2013 12:10 in reply to "Criminal?"
Morgan Member since:

It's certainly grounds for an investigation here in the States, but I don't know a thing about Finnish law. I also hope they block it, if nothing else just to see a chance of Nokia escaping from the Windows Phone lock-in and start making innovative phones again. I like WP as an OS, but I always thought Nokia was too good for such an exclusive partnership.

Reply Parent Score: 10

v RE[2]: Criminal?
by lucas_maximus on Tue 24th Sep 2013 19:33 in reply to "RE: Criminal?"
RE: Criminal?
by kwan_e on Tue 24th Sep 2013 12:23 in reply to "Criminal?"
kwan_e Member since:

I think the whole parachute-in-a-CEO practice should be made illegal.

Elop reminds me of Reacher Gilt in Going Postal.

Reply Parent Score: 6

RE[2]: Criminal?
by ml2mst on Tue 24th Sep 2013 14:32 in reply to "RE: Criminal?"
ml2mst Member since:

Elop reminds me of a Dutch TV show, it's called "Who Is The Mole?"

Edit: link addet

Edited 2013-09-24 14:36 UTC

Reply Parent Score: 3

RE: Criminal?
by lucas_maximus on Tue 24th Sep 2013 19:17 in reply to "Criminal?"
lucas_maximus Member since:

I fail to see how any of this is legal

This post and the original article linked would have been called libel in my home country and you would be taken to court.

So you are somewhat right.

Edited 2013-09-24 19:18 UTC

Reply Parent Score: 2

RE[2]: Criminal?
by Radio on Tue 24th Sep 2013 19:33 in reply to "RE: Criminal?"
Radio Member since:

Wrong. The legal definition of libel is very restricted. As Thom and others genuinely think Elop was not acting in Nokia's best interests and have reasonable grounds to argue so, their opinion cannot be qualified as libel.

Reply Parent Score: 3