When a dog brings you your newspaper in the morning, you give him a biscuit for doing a good job. When Nokia fires several hundred people over the course of a year, the CEO gets an extra 2 million EUR for doing … what exactly?
In an age when Motorola’s CEOs both took a 25% pay cut, because the company isn’t exactly doing very well, what achievements has Nokia actually accomplished that merit the CEO to get over 2 million EUR more than he did the year prior?
In the smartphone space, Nokia is losing share. In the low end space, Nokia is facing ever growing competition from Chinese “bandit” phones. In services … yea, I don’t really have to say anything about Nokia services.
So I’m confused. Really, I am. Yes, Nokia had to cut some jobs. There is a lot of redundancy within the company. But that’s a hell of a pay raise for a company that’s losing mind share, and more importantly is achieving smaller margins than it has in the past. I don’t have any opinion of OPK, it’s hard to form one since the man is incredibly average. He joined Nokia as a lawyer, then became Chief Financial Officer during the 90s, so he’s not exactly a technologist.
Personally, I love Anssi Vanjoki and need to find the tailor that makes his trousers, because the man has balls the size of a Lada. He should be CEO, but he isn’t because … well fuck me, I wish I knew why!
[Via: Helsinki Times]
Update: For those of you who want numbers, I refer you to Nokia’s full year 2009 results. Market Share in 2009: 38%, versus 39% in 2008. Reported profits 2009 versus 2008, down 75.9%. Non-IFRS profits 2009 versus 2008, down 50.2%. Hat tip to @EverythingBlaxx for calling me out.