Nokia's management asked Stephen Elop to reduce the size of his bonus, but he refused, citing his divorce
An ugly story that has stirred up a wave of negativity in the Finnish media since the purchase of Microsoft’s Nokia assets by Nokia has added several dubious points to the characterization of Stephen Elop.
As it turned out a few days ago at the suggestion of the influential Wall Street Journal, Elop should receive as a severance package $ 25.4 million just as compensation for a successful deal with the Americans, which was also closed earlier than the planned date - the beginning of the next year. They immediately recalled that from September 2010, when Elop headed Nokia, the total value of his salary was solid $ 9 million, while Risto Siilasmaa ( Risto Siilasmaa ) - a temporary replacement for Elop - will receive a salary of about $ 500,000, and 40% of the salary will be the shareholder capital, not cash.
Finland’s Labor Minister Lauri Ihalainen was also noted with a critical statement: he said straightforwardly that he was “a little sick” of the amount of compensation to Elop and it seems that the American was hired specially for the fact that Nokia was sold.
Later opened another fact regarding Elop. According to the article by the largest Finnish newspaper Helsingin Sanomat , the author of which traditionally refers to unnamed sources, the board of directors of Nokia asked its former chief to reduce the amount of compensation to himself, so as to level out a wave of outrage by the company's actions. According to sources, Elop did not agree to reduce the amount owed to him, referring to the fact that he is in the process of divorce and, probably, as a result of the division of property between the former spouses $ 25 million will be very useful for him.
')
No less gross mistake was made by Risto Siilasma mentioned above. Probably, wanting to rehabilitate Nokia’s leadership in the eyes of the public, he said at a press conference that the contract of his predecessor, Elop, was essentially the same as the contract of other CEOs. However, the cunning journalists were able to unearth just the opposite - the contract with Elop contained the condition of accelerated payments for him precisely because the future sale of Nokia’s assets was planned from the very beginning. In other words, indirectly confirmed the hunch repeatedly expressed, including on Habré, that Elop played the role of a kind of "Trojan horse", managing to drastically reduce the cost of Nokia for its comfortable purchase of Microsoft.
[ Source ]
As it turned out a few days ago at the suggestion of the influential Wall Street Journal, Elop should receive as a severance package $ 25.4 million just as compensation for a successful deal with the Americans, which was also closed earlier than the planned date - the beginning of the next year. They immediately recalled that from September 2010, when Elop headed Nokia, the total value of his salary was solid $ 9 million, while Risto Siilasmaa ( Risto Siilasmaa ) - a temporary replacement for Elop - will receive a salary of about $ 500,000, and 40% of the salary will be the shareholder capital, not cash.
Finland’s Labor Minister Lauri Ihalainen was also noted with a critical statement: he said straightforwardly that he was “a little sick” of the amount of compensation to Elop and it seems that the American was hired specially for the fact that Nokia was sold.
Later opened another fact regarding Elop. According to the article by the largest Finnish newspaper Helsingin Sanomat , the author of which traditionally refers to unnamed sources, the board of directors of Nokia asked its former chief to reduce the amount of compensation to himself, so as to level out a wave of outrage by the company's actions. According to sources, Elop did not agree to reduce the amount owed to him, referring to the fact that he is in the process of divorce and, probably, as a result of the division of property between the former spouses $ 25 million will be very useful for him.
')
No less gross mistake was made by Risto Siilasma mentioned above. Probably, wanting to rehabilitate Nokia’s leadership in the eyes of the public, he said at a press conference that the contract of his predecessor, Elop, was essentially the same as the contract of other CEOs. However, the cunning journalists were able to unearth just the opposite - the contract with Elop contained the condition of accelerated payments for him precisely because the future sale of Nokia’s assets was planned from the very beginning. In other words, indirectly confirmed the hunch repeatedly expressed, including on Habré, that Elop played the role of a kind of "Trojan horse", managing to drastically reduce the cost of Nokia for its comfortable purchase of Microsoft.
[ Source ]
Source: https://habr.com/ru/post/195250/
All Articles