Friday, 11 March 2011

Nokia pays Elop over $6 million to move from Microsoft

http://l.yimg.com/bt/api/res/1.2/lnI9ABGeOK68bMB2m4lydg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTEzNjtweG9mZj01MDtweW9mZj0wO3c9MTkw/http://media.zenfs.com/en_us/News/Reuters/2011-03-11T130410Z_01_BTRE72A10B400_RTROPTP_2_SPAIN.JPGHELSINKI - World's top phone maker Nokia will pay its CEO Stephen Elop more than $6 million in one-time payments for moving to the Finnish company from Microsoft last September, a corporate filing showed on Friday.
As compensation for lost income, Nokia paid Elop last October 2.3 million euros ($3.18 million), and will pay a further $3.0 million in October 2011, according to Nokia's annual 20-F form filed with the U.S. securities and Exchange Commission.
Elop's total gross base salary is 1.05 million euros, slightly below his predecessor Olli-Pekka Kallasvuo, whose base salary was about 1.18 million in 2009.

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