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Former Nokia boss Stephen Elop set for $25.5M payday as he rejoins Microsoft
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Former Nokia boss Stephen Elop set for $25.5M payday as he rejoins Microsoft

Properly, this isn’t too dangerous for a two-year stint.

Stephen Elop, who took over the reins of Finnish telephone big Nokia in September 2010, is slated to get a $25.5 million payout after he rejoins Microsoft. Microsoft introduced its intentions to purchase Nokia’s cellphone enterprise for $7.2 billion earlier this month, and as a part of the deal Elop is planning to rejoin his former employer.

Microsoft is set to offer 70 % of the payout, with Nokia protecting the remainder, according to The New York Times. The Instances additionally studies that Elop initially collected $6.2 million to hitch Nokia two years in the past.

Elop has been mentioned as a frontrunner to succeed outgoing Microsoft CEO Steve Ballmer, who announced his plans to step down late last month. The Nokia-Microsoft transaction is predicted to get approval subsequent 12 months, and Elop’s $25.5 million fee will happen as soon as the deal is finalized.

Phrases of the payout had been described in a Nokia filing right now.

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