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back to article Ex-CEO Elop's plunder to total $25m in voyage from Nokia to Microsoft

Outgoing Nokia CEO Stephen Elop will receive compensation and bonuses totaling approximately $25.4m as he departs the company for his new position at Microsoft. The payout was revealed in proxy materials for the Finnish firm's "Extraordinary General Meeting" to be held on November 19, during which shareholders are expected to …

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yawn...

I wonder if peeps are gonna birth kittens over this.

Elop bought a lot of Nokia shares with his own money.

The return is mostly because that stock raised.

Everyone who invested in Nokia made out with a lot of money because they were all investing when it was at rock bottom.

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Devil

Re: yawn...

Burning platform my fucking arse.

That bastard set fire to it himself knowing, no, *ensuring* this is how it would turn out.

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Re: yawn...

-Pardon me, your house is on fire.

:What! No it isn't.

-Look again.

:Holy shit!!! When did that happen?

-When you looked away to see what I wanted.

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Facepalm

Re: yawn...

Everyone who invested in Nokia made out with a lot of money because they were all investing when it was at rock bottom.

Implying it's not still at rock bottom (oh look a dead cat bounce). Now that they burned the mobile division down and will sell it, it's not going up quickly either.

Lawsuits are gonna fly. I can feel it.

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Re: yawn...

The return is mostly because that stock raised.

Um, raised according to what? From the article:

By comparison, Olli-Pekka Kallasvuo, the man Elop replaced as chief exec, left Nokia with around $5.8m in severance pay and 100,000 Nokia shares – shares that are now worth 34 per cent less than when Elop took the corner office in 2010.

Anyone who invested under the assumption that stocks would raise under Elop were screwed over. Badly.

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Anonymous Coward

Re: yawn...

"shares that are now worth 34 per cent less"

The Shares were 60% less only a few days ago, the share price doubled after news of the MS takeover.

Elop stripped 60% off the share value in his tenure, then MS came in and gobbled the company up - and Nokia are giving him a golden goodbye???

MUGS

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Re: yawn...

> Everyone who invested in Nokia made out with a lot of money because they were all investing when it was at rock bottom.

You seem to think that there were no shareholders before Elop came on board.

Lots of investors dropped a bundle when the shares fell to 1/3 their value. The rise from 'rock bottom' is small compared to that.

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You know whst they say about Pooh-pooh...

Never pooh-pooh a pooh-pooh.

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MrT
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Morale...

...totally destroyed...

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FAIL

I think I prefer to have no millions but retain my integrity.

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>I think I prefer to have no millions but retain my integrity.

It would be nice to try the alternative though....

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You try, you buy.

Once you sell your integrity, you can't get it back, even if you are Bill Gates splashing cash around via his self named charity* to try and cleanse himself of his past misdeeds.

* True charity is done anonymously

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FAIL

@Goat Jam

That's horseshit that 'true charity is done anymomously'. By attaching his name to the foundation it attracts other high value donors and gives people a sense of security that the foundation won't be running out of money any time soon.

You think he's branding Sub-Saharan children with their fucking logo when they're treated for malaria? Maybe he's spraying all the mosquitos with Linux distribution logos in an incredibly long term strategy to sway public opinion against OSS operating systems?

Christ almighty Eadon, I'm not a fan of everything Bill Gates did in business but you're just being a burning cock lesion if you can't seperate the real world from fucking Windows.

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Re: @Goat Jam

haha you called me Eadon.

Is everybody who dislikes MS now to be accused of being Eadon?

Nice rant BTW

However I would point out that effectively taxing half the planet to the tune of tens of billions of dollars via outright lying and ruthless monopoly abuse is slightly more serious than just "h8ing windoze"

That's tens of billions of dollars that left normal peoples pockets to fill MS's metaphorical trousers under dubious at best, or illegal at worst, circumstances.

You have nice day now.

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Re: @Goat Jam

Thanks. Since Eadon was keel hauled the opportunities to rant have really gotten scarce. I really didn't think anyone could fill those irrationally sized shoes. It is nice to know that the world keeps on cranking out short sighted people.

Just think! Without people like you we would all have to step up our games and be a little less stupid. But thankfully you've met the quota for everyone. Thank you for your sacrifice.

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Both is an option.

Not for Elop - although to be fair, it's still Make Out Like a Pirate Day in the US.

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Meh

It's always

Make Out Like a Pirate Day, in the US

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Re: It's always

Off topic, but how *do* pirates make out? Does Roger the Cabin Boy feature?

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Re: It's always

Usually.

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Headmaster

Re: @Goat Jam

@Don

Keep saying "gotten" and I'm sure that a few of us will be happy to keel-haul you too.

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Re: @Goat Jam

There have been a few investigations where a local government suddenly stopped plans to switch away from Windows after a large Gates foundation donation.

And like any large charity it is a hedgefund first, to make the money it spends - some of it's investments have been a little less than ethical.

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Re: @Goat Jam

"Without people like you we would all have to step up our games and be a little less stupid. But thankfully you've met the quota for everyone. Thank you for your sacrifice.'

Ah yes, personal invective, the last resort of a scoundrel who has no argument to put forth.

Please point out where anything I said was non-factual. Pointing out facts is not stupid, however much you may like to ignore them.

Oh, and at least I don't say "gotten"

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Re: @Goat Jam

Shhh. you'll have Don calling you "stupid" if you keep this up. Don doesn't like it when his world view is challenged.

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Pirate

He's an Apple mole

He'll be going to Samsung next.

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Pirate

Obligatory

Avast yur waggin tongues and double the watch. The treacherous pirate Elop approaches to port. Else ya may do lads, don't allow him aboard. He'll buttfuck every last one of yas afore he rapes the holds and scuttles the ship.

Today as ner before, act as men and seek yur fortunes in the cold depths. A better fortune by far than Elop offers.

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To this day, I still think

That the best way forward for Nokia was to improve the Symbian GUI to a level where it was simply competitive, and make a play for its own distinct ecosystem. They had the numbers back then. They were also stuck up their own arses.

That's not a complaint about Windows Phone. I carry two Nokia Windows Phone devices (corporate 620 and the personal 720 that I use for local SIM cards when travelling, in addition to my contract Samsung S3), and it's a very competent mobile OS. I wish Microsoft and Micro-Nokia well.

Then again, Microsoft also had a great mobile OS when the iPhone happened (loved my TyTn). They did less than Nokia and Palm! Sad, isn't it? Google went from a standing start while Nokia merely needed to evolve. The wisdom of hindsight strikes again.

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Anonymous Coward

Re: To this day, I still think

A huge undertaking.

Why do you think they were playing around with Maemo and the like? to get a modern development platform, not some arcane old version of C++.

Microsoft gave up on Win9x eventually when they make a consumer version of NT. Nokia needed to develop the next gen OS in parallel and then release it with a big fanfare.

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Re: To this day, I still think

>arcane old version of C++

Don't blame C++. Try writing a decent OS with a managed language.

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Re: To this day, I still think

They tried that, buying Trolltech because of Qt. And then they started another internal war, creating two competing UI's with incompatible API's on top of Qt.

25 million is peanuts compared to the amount of money that stupidest of actions have cost Nokia.

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Wowzers

The payout was revealed in proxy materials for the Finnish firm's "Extraordinary General Meeting" to be held on November 19,

25 million to a pillock. Extraordinary indeed

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Flame

Order

Elop knows the order: pillage first, then burn.

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Mushroom

This is illegal isn't it?

If there's any justice tomorrow someone in the Finnish government will say that they're going to start a long and thoroughly painful investigation, preferably with rubber gloves (made by Nokia).

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Re: This is illegal isn't it?

Hell no it isn't illegal. The whole thing is solid gold dickheadedness, but it isn't illegal. They bought Nokia (or a big chunk of it) Elop came with the package.

It'll be investigated sure, but too many people made too much money off this for any impropriety they did find to amount to much. This is how companies do things, and its all OK as long as enough of the right people get a piece too. It sucks, but that's the way it is.

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Re: This is illegal isn't it?

Depends - if Elop was working for Microsoft all along rather than in the best interests of Nokia's shareholders then a visit to the naughty step might be in order.

But since they can't give Nokia it's shareprice back then blocking the deal with MSFT isn't going to be in anybody's interest.

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> Outgoing Nokia CEO Stephen Elop will receive compensation and bonuses totaling approximately $25.4m as he departs the company for his new position at Microsoft.

Compensation? Compensation for what? Didn't he leave of his own choice?

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Arr. Do you reckon it be fun and dances waiting a long time on a burning galleon? Even if he put on the course for Davy Jones' locker himself.

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Anonymous Coward

>Compensation? Compensation for what?

'merkins say "compensation" when they mean "compensation" and also when they mean "remuneration." Something to do with being only partially literate I imagine. Anyway, this appears to be a case of the latter - someone can't find "remuneration" in their dialect.

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Anonymous Coward

Perhaps they misheard consideration.

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Anonymous Coward

Stephen Elop == perkeleen vittupää

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Happy

Nokia Negotiator: "All right, we'll sell you the Mobile Division, but with the condition that you also take away Elop."

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Anonymous Coward

Yes, that is indeed to look at the bright side.

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Or:

Nokia Negotiator: "Please, will you take Elop back? He's destroying our company and corporate culture."

Microshaft: "All right, but we'll want the Mobile Division as compensation."

Nokia Negotiator: "Done."

Microshaft: "You have been."

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Talk about payment for failure!

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not really

There are CEOs who specialize in nothing else but coming into a company and getting it bought out by a larger company. Its quite lucrative for both the CEO and usually the investors in the company being bought.

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Re: not really

Every time Nokia appears in the news, Juniper Networks must collectively sigh with relief over how they managed to get rid of him in time.

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How appropriate....

....for "talk like a pirate" day.

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Pirate

The Crimson Permanent Assurance

Arrgghh!

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I thought 30 pieces of silver was the more traditional reward...

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Denarius and shekel exchange rates are at an all time low.

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Nokia's mobile division? I thought is was one big mobile division, it being a mobile phone company....

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