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[5]: Comment by Nelson
by hamster on Wed 25th Sep 2013 07:18 UTC in reply to "RE[4]: Comment by Nelson"
hamster
Member since:
2006-10-06

Okay we're not talking selling one phone one day or two tomorrow, we're talking increasing volume by over a million (two million from Q1 to Q2) in three months.


Am i mistaken when i say that if i sell 1 phone q1 and 2 phones in q2 that would be a 100% increase and if i sold 1 million phones q1 and 2 million q2 that would be 100% increase?

Reply Parent Score: 1