Nokia ’fesses up about its former-CEO’s compensation

Posted by BernardSwiss on Sep 25, 2013 1:20 PM EDT
Ars Technica; By Nathan Mattise
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On Tuesday, Nokia interim boss Risto Siilasmaa backed off recent statements he made indicating that former CEO Stephen Elop's employment contract was the same as Elop's predecessor, Olli-Pekka Kallasvuo. The whole situation came to light because Helsingin Sanomat, Finland's largest daily paper, reported that Elop will receive an €18.8 million ($25.4 million) termination payment that wasn't available to Kallasvuo. Elop stepped down in light of Microsoft agreeing to purchase Nokia's phone business. As a former Microsoft employee, Elop wanted to avoid any conflicts of interest, according to Reuters.

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