Skip to comments.Just How Inept Was Nokia's Board?
Posted on 09/24/2013 3:14:12 PM PDT by pluvmantelo
Finland is boiling with rage this weekend over the $25 M bonus payment the CEO Stephen Elop is set to receive as he leaves Nokia NOK -1.35% after his two-year tenure. Questions are now being raised by the oddest aspect of the bonus: the board of Nokia seems to have given Elop a $ 25 M incentive to sell the handset unit cheaply to Microsoft MSFT -0.87% way back in in 2010. This effectively means that the board hired a man who was given a giant carrot to drive down Nokias overall valuation and phone volumes while preparing a sale to Microsoft. What could possibly be a reason to structure Elops original contract in this manner? Did the board in fact end up promising Elop more compensation in case he sells the phone division than if he runs it with modest success?
(Excerpt) Read more at forbes.com ...
Free Trade Globalism doesn’t work....hope Finland learns from this
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