Move to Nokia pays off
Source: Agencies |
March 14, 2011, Monday
|
Print Edition
Print Edition
THE executive hired to turn around mobile phone maker Nokia is getting US$6.2 million to make up for the pay he lost when he left Microsoft last fall.
Nokia CEO Stephen Elop received a payment of about US$3.2 million last October, according to a filing last Friday with United States regulators. He is due to receive another US$3 million this October.
Elop also got US$710,000 to cover money he had to repay Microsoft and another US$435,000 to reimburse him for legal fees related to his move from Microsoft.
Finland-based Nokia set Elop's first-year salary at 1.05 million euros (US$1.46 million) and gave him other incentives that included 500,000 stock options.
Elop joined Nokia Corp in September, ending a two-year stint at Microsoft Corp. He said last month that Nokia's phones will switch to a Microsoft operating system.
Nokia CEO Stephen Elop received a payment of about US$3.2 million last October, according to a filing last Friday with United States regulators. He is due to receive another US$3 million this October.
Elop also got US$710,000 to cover money he had to repay Microsoft and another US$435,000 to reimburse him for legal fees related to his move from Microsoft.
Finland-based Nokia set Elop's first-year salary at 1.05 million euros (US$1.46 million) and gave him other incentives that included 500,000 stock options.
Elop joined Nokia Corp in September, ending a two-year stint at Microsoft Corp. He said last month that Nokia's phones will switch to a Microsoft operating system.
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