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Nokia's Elop to Get $25 Million if Microsoft Deal Done

jones_supa (887896) writes | about a year ago

0

jones_supa (887896) writes "Stephen Elop, the former Nokia Oyj chief executive officer who is rejoining Microsoft, is set to get more than $25 million if the Finnish company completes the sale of its handset business to the software maker. Microsoft will pay 70 percent of the projected total amount of about 18.8 million euros ($25.5 million), and Nokia the remainder, according to a proxy filing by Nokia today. The value of Elop’s reward is estimated using Nokia’s Sept. 6 closing share price and may still change. Nokia shares have dropped by more than a third since Elop was hired on Sept. 10, 2010, even with the stock’s gain since the sale to Microsoft was announced. Nokia shareholders are set to vote on the transaction Nov. 19. Elop will move back to Microsoft as part of the $7.2 billion takeover. He is also a candidate to succeed Microsoft CEO Steve Ballmer."

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