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[4]: Criminal?
by lucas_maximus on Wed 25th Sep 2013 05:25 UTC in reply to "RE[3]: Criminal?"
Member since:

I've heard you mention what you did before, it isn't the same thing.

Reply Parent Score: 3

RE[5]: Criminal?
by Morgan on Wed 25th Sep 2013 14:12 in reply to "RE[4]: Criminal?"
Morgan Member since:

And once again, I never claimed it was. But you haven't answered my question: Are you a lawyer practicing in the US? If so, feel free to tell me my experiences related to US law don't apply. If not, well you're just making an even bigger fool of yourself.

Reply Parent Score: 2

RE[6]: Criminal?
by lucas_maximus on Thu 26th Sep 2013 18:36 in reply to "RE[5]: Criminal?"
lucas_maximus Member since:

What your argument you've just made, would be the same as saying that that I know gambling because I sit near traders (setting odds for sport bets).

I don't see what the problem is that he was given a job to do by the board and he worked with people that he already worked with before (and had experience with working with them) to ensure a deal.

The last place I worked at Microsoft gave us a deal of 90% off all prices and $5 million quids worth of Software Licenses and we let them muck about with some expensive boats ... I will scratch your back, I will scratch your back is normal in business.

Reply Parent Score: 3