Elop gets 18.8 million if the Nokia phones are sold

Nokia’s former CEO Stephen Elop gets 18.8 million euros as bonuses and share-based remuneration if Nokia’s phone unit sale occurs.

The value of the share bonuses is approximately 14.6 million euros. It is estimated in accordance with the share rate on September 6. In addition, Elop gets worth 4.2 million euros of salary and other remuneration. Microsoft will pay 70 percent of the Elop’s premium and Nokia 30 percent.

Data shows in materials of Nokia’s Extraordinary General Meeting. General Meeting is expected to approve the sale of Devices & Services at the end of November.

The appointed temporary Executive Director, Chairman of the Board, Risto Siilasmaa gets 500,000 euros in compensation from his short job. 40 per cent of the amount will be paid in shares acquired in the market and the rest in cash.

The Deputy Managing Director Timo Ihamuotila, who shifted his role to Chief Financial Officer, gets compensation of 250,000 euros from his job. In addition, he receives 250,000 euros worth of share-based remuneration, consisting of stock options and restricted shares.

(Translation from: Taloussanomat (in Finnish))

Kelmin Lumo

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