Stephen Elop makes around £20 million out Microsoft-Nokia deal

According to CNET, for brokering Microsoft’s purchase of Nokia’s Devices & Services unit, former Nokia CEO and now Microsoft EVP Stephen Elop will get $33 million (around £20). Microsoft will pay around 70% of the amount, while Nokia will pay the remaining amount.

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When Microsoft announced that it was purchasing Nokia’s mobile unit, Nokia shareholders were concerned Elop would get around $26 million in severance pay. Microsoft would shoulder 70% of the amount, but shareholders argued that the remaining 30% they would shoulder wasn’t in line with Nokia’s performance under Elop’s leadership. Now that the amount is around $33 million, we’re pretty sure Nokia’s shareholders are slapping themselves on the head.

Microsoft is yet to comment on the said amount.

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