Microsoft has completed the acquisition of Nokia in a deal that was worth $7.5 rather than $7.2 billion, which was the initial figure. The rise in the price also affected Stephen Elop’s severance package that grew from $26 to $33 million. Not bad for a man under whose reign Nokia’s stock price and market share was pretty much in a freefall.
His initial compensation was something people in Finland talked about with great disgust, and the further rise in value [of his compensation package] yet again dominated the local media landscape.
Alas, 70% of Elop’s massive paycheck will come from Microsoft with Nokia paying the remaining 30%, hinting us who’s pulling the strings here.
Considering Nokia’s performance under his reign, we can’t really agree Elop earned all this money. He’s now Microsoft’s VP of Devices and Services, and he couldn’t give a damn what we think, though.