The compensation of 18.8 million for Nokia’s previous CEO Stephen Elop is surprising also abroad.
greedy bankers have got competition, writes the Financial Times in its Lex column on Elops severance.
According to the newspaper, Nokia’s market value of 28 billion euros since Elop joined the company. Now that Elop is heading back to Microsoft, the value of 18 billion euros. According to Financial Times calculations Nokia shareholders pay one million euros to Elop for every € 1.5 billion, Nokia’s market value has fallen.
Liikanen: Interesting
The head of the Bank of Finland Liikanen said for his part that he understands the outrage that many Finns feel over one million amount. Liikanen interviewed in MTV3′s morning show on television today.
Since in Finland speaks of the need to keep costs under control is based Finns according to Liikanen from the requirement to apply to all. That’s according to Liikanen interesting to see how the decision is justified.
Elop must EUR 18.8 million on the deal between Nokia and Microsoft realized. Nokia pays 30 percent of the sum and Microsoft rest.
decision in November
Nokia’s Annual General Meeting decides on how it goes with the deal in November, and there will Elops fees to stimulate discussion, says Jarmo Leppiniemi who is a professor of accounting at the Aalto University.
According Leppiniemi suspect many shareholders that Elop has always been Microsoft’s husband. The small shareholders still have no more influence over the business, he says.
Nokia would have to pay tens of millions of euros in damages, if the deal with Microsoft goes to nothing.
Read also: Microsoft deal provides Elop 19 million
Published 20.09.2013 – 09:54. Updated 09/20/2013 – 10:06
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