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?