Anger Finland and Nokia CEO Bonus Money
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Nokia CEO |
Cash incentive amounting to 25 million U.S. dollars will be accepted former CEO of Nokia Stephen Elop , being a controversy in Finland . Elop Nokia requested that receive money with a smaller amount , but Elop declined for reasons he wanted a divorce .
Nokia , Elop previously promised incentives amounting to 25 million U.S. dollars to conditions set forth in the contract documents .
In the contract stated that Elop will receive a bonus if the Nokia share price rose following a situation involving a " change of ownership . " The increase in the stock price does not have to equal the initial price when Elop joined yet , but quite turn out better than " the lowest point " .
Indeed , when a business unit of Nokia mobile phones and services sold to Microsoft , Nokia shares rose 35 percent on 3 September 2013 .
Elop will receive the bonus money when Microsoft completed the acquisition of the business units of Nokia mobile phones and services in the first quarter of 2014.
Finnish society was made furious by the news . They are not happy to see foreign executives received bonus money by selling business units importantly Nokia , a company that was legendary and has historical value in Finland .
According to the Chairman of the Board of Directors of Nokia , Risto Siilasmaa , the bonus money as promised and is also accepted by the previous Nokia CEO , Olli - Sensitive Kallasvuo .
Largest newspaper in Finland , Helsingin Sanomat , investigating Siilasmaa statement . Elop is contained in the contract clause of the details of this bonus . However , this kind of clause is not found in the contract Kallasvuo .
This led to speculation of Finnish society , there is intrigue behind and contract recruitment Elop as Nokia CEO .
Prime Minister of Finland , Jyrki Katainen , commented that the incentive mechanism of major companies around the world was so extraordinary that it can not be understood by common sense . Meanwhile , Finance Minister of Finland , Jutta Urpilainen added that the bonus Elop has created a " toxic atmosphere that threatens social harmony . "
To dampen public anger Finland , Nokia requested that Elop received bonus money with a smaller value .
However , according to reports Helsingin Sanomat , Nokia Elop refused the request because he was getting a divorce . Elop said she will ask for the distribution of bonus 25 million U.S. dollars .
Elop , who joined Nokia in September 2010 , is a Canadian national . He is the first non- Nokia CEO Finnish citizen . Prior to working for Nokia , Elop served as Head of Business Division in Microsoft Office products .
On 3 September 2013 ago , Elop surprising tech industry and , of course , surprising residents of Finland. He sold the business units of Nokia mobile phones and services , along with a license to Microsoft's patent worth 7.2 billion U.S. dollars . Like the body , Microsoft has bought the "heart " that had blood pumping Nokia .
Nokia Group company is headquartered in Espoo , now have to survive with 3 business units that they still have, which is a business unit of digital maps and location services ( Nokia Here ) , technology development ( Advanced Technologies ) , as well as the network infrastructure and telecommunications services ( Nokia Solutions and Networks ) .
Nokia should change the focus and rely on telecommunications infrastructure business unit to support the group companies , after the mobile phone business units which have been the " heart" of the company has taken to the bosom of Microsoft's Elop .