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[2]: Comment by Nelson
by Nelson on Tue 24th Sep 2013 13:49 UTC in reply to "RE: Comment by Nelson"
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But it was low enough for you to buy some...

Obviously because I saw upside potential, that doesn't really exactly mean anything. It was almost double what it was when I loaded up at the time of the deal close, and up to almost 7 dollars a share now.

So everything ever written is always written exactly as the intention?

No, but not everything ever written is some stupid ass(and highly, highly fucking illegal) conspiracy.

What makes more financial sense to Microsoft? A healthy Nokia selling tens of millions of phones or a financially strained one selling millions? The argument that Elop purposely killed the company is bullshit.

Do you have short term memory loss within the time span of you writing a comment?

If you're trying to make a point, make it. So far there is none, your holding aside.

What was the market cap before Elop?

Don't know off hand, why don't you tell me. And why don't you tell me Nokia's cash burn rate and balance sheet prior and now after the Microsoft acquisition of a division which was a drag on earnings.

Nokia will be stronger post acquisition that it was the moment Elop took over.

Get a clue, put your money where you mouth is, and short some stock and we'll see who ends up being right.

Reply Parent Score: -3