Nokia CEO takes 45% cut in pay package

Elop, hired in 2010 from Microsoft Corp to turn around the Finnish mobile phone maker, earned 4.33 million euros ($5.63 million) in 2012, down from 7.94 million euros in 2011.

While his base salary rose by 59,500 euros to 1.08 million euros, his stock and option awards fell slightly and he earned no bonus, according to the Thursday filing with the U.S. Securities and Exchange Commission.

I felt bad for him until I saw the numbers. How much money do you deserve for running a company into the ground?

  • mvcmendes

    Some people just excel at failing upwards.

  • Mother Hydra

    Twist: Troy pays hollow horse to topple city.

  • “How much money do you deserve for running a company into the ground?” I dunno. Ask Tim Cook.

  • If the company is in such a dire position that they need to sell their headquarters in order to keep the ship afloat ( i think the CEO should be making some cuts to his own pay.

  • Maxi

    HE did not run the company in the ground. The mistakes were done before he came on board. If that decission for Win Phone and abandoning the own platform was a good idea will have to play out. but Nokia won’t go bankrupt any time soon: MS needs someone to build their phones so they will keep it afloat, no matter the cost. Depending on how dire the situation was when he sent his “burning platform” letters, it may heave been the right choice. Lets be honest: after his job at Microsoft, he could have gotten a far more cozy and secure job if he wanted to.