Purchased Microsoft, Nokia CEO to Pay Hundreds of Billions
Post acquired by Microsoft, the former CEO of Nokia Stephen Elop flooded fortune. Elop will reportedly get paid worth hundreds of billions of dollars after Microsoft completed the acquisition agreement to purchase Nokia's mobile phone business unit.
According to the revised contract with Nokia, Elop, a former Microsoft employee's salary is expected to pocket a fee of $ 25.4 million (or approximately USD 288.5 billion). That figure includes cash and stock award for the initial cost.
Of these, according to AllThingsD reported on Saturday (09/21/2013), Nokia is only responsible for 30 percent, the remaining 70 percent is borne by Microsoft. The package is part of the Nokia proxy filing.
Elop himself agreed to step down as CEO of Nokia on the acquisition deal was announced. Now he serves as Executive Vice President and Service Business Nokia Devices.
Elop is expected to join Microsoft as Head of Devices and Service Business after the acquisition deal is completed, which is expected to be completed in the first quarter of 2014.
On the other hand, Elop also seen as a strong candidate to fill the seat of the CEO of Microsoft. As is known, CEO Steve Ballmer has announced that he intends to resign within the next year after a replacement is found.
In addition to Elop, Nokia also will provide additional salary for interim CEO Risto Siilasmaa and CFO Timo Ihamuotila. Siilasmaa will get money of $ 676,300 in stock and cash, while Ihamuotila will earn $ 338,150.
Post acquired by Microsoft, the former CEO of Nokia Stephen Elop flooded fortune. Elop will reportedly get paid worth hundreds of billions of dollars after Microsoft completed the acquisition agreement to purchase Nokia's mobile phone business unit.
According to the revised contract with Nokia, Elop, a former Microsoft employee's salary is expected to pocket a fee of $ 25.4 million (or approximately USD 288.5 billion). That figure includes cash and stock award for the initial cost.
Of these, according to AllThingsD reported on Saturday (09/21/2013), Nokia is only responsible for 30 percent, the remaining 70 percent is borne by Microsoft. The package is part of the Nokia proxy filing.
Elop himself agreed to step down as CEO of Nokia on the acquisition deal was announced. Now he serves as Executive Vice President and Service Business Nokia Devices.
Elop is expected to join Microsoft as Head of Devices and Service Business after the acquisition deal is completed, which is expected to be completed in the first quarter of 2014.
On the other hand, Elop also seen as a strong candidate to fill the seat of the CEO of Microsoft. As is known, CEO Steve Ballmer has announced that he intends to resign within the next year after a replacement is found.
In addition to Elop, Nokia also will provide additional salary for interim CEO Risto Siilasmaa and CFO Timo Ihamuotila. Siilasmaa will get money of $ 676,300 in stock and cash, while Ihamuotila will earn $ 338,150.
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