Digital Spy
has reported that Nokia CEO Stephen Elop will earn up to $25 million when
Microsoft’s deal to buy Nokia is finally completed in early 2014.
This was
revealed in the statements contained in the legal filings submitted by Nokia.
 |
| Stephen Elop |
“Mr Elop will
be entitled to receive 18 months of his base salary and management short-term
cash incentive [calculated at 100% of target] as well as accelerated vesting of
his outstanding equity awards,” the filing states.
Microsoft
recently bought Nokia’s mobile unit and its patents for $7.2 billion. The
present Nokia CEO, Stephen Elop will also move to Microsoft at the conclusion
of the deal to become Microsoft’s Vice President of Devices.
Stephen Elop
is one of the favourites to replace the under fire Steve Ballmer as Microsoft
CEO. Steve Ballmer is expected to retire from the Washington Company in the
next 12 months.
Stephen Elop
with his move to Microsoft has become an internal candidate rather than an
external candidate according to Steve Ballmer.
Source:
Digital Spy
Posts
Stephen Elop to get $25m from Microsoft’s Nokia deal