Stephen Elop picks up $25.2 million as he leaves Nokia for Microsoft

Stephen Elop

Two and a half weeks ago Microsoft announced their intent to buy the devices and services division Nokia. At that time, Stephen Elop stepped down as CEO of Nokia to become the VP of the devices and services division. This would allow him to move to Microsoft when the deal completes sometime in early 2014. He’s also getting a hefty payout as part of the deal. How much?

Stephen Elop is picking up $25.5 million as he leaves Nokia and joins Microsoft. Around 70% of that total will be paid by Microsoft, while Nokia picks up the remaining 30%. Which isn’t a bad sum of money at all when you remember that he earned $6.2 million when he left Microsoft for Nokia in a similar deal a few years ago.

Many have accused Stephen Elop as being a shill for Microsoft. Even though the past year of negotiations was led by Nokia chairman Risto Siilasmaa. Don’t forget to read the inside story of how Microsoft came to buy Nokia’s handset division.

Stephen Elop is now considered by many to be a front runner for the CEO position at Microsoft. In fact, he’s gone from an external to internal candidate in the hunt for the next hefe at Microsoft. What do you think of Stephen Elop as CEO at Microsoft? Good position for him or should he remain the VP of Microsoft’s own devices division when he joins? Sound off below.

Source: NY Times

Thanks for the tip Darwin H!


Reader comments

Stephen Elop picks up $25.2 million as he leaves Nokia for Microsoft


yeah! that Greed. 
This Greedy Flop bring down legend company and sold it to MS.
What you expect from Most Flop CEO of the millennium.
 I think anyone except this a$$ Hole was CEO , then Nokia still be alive and kicking other manufacrer ass.

He'd make a much better face for Microsoft than Ballmer. Apple and Google both have these very well kept and tidy CEOs, groomed and up with their looks, then.... Ballmer.

Ballmer always kind of creeps me out when he demo's products. Elop, meanwhile, has a much more inviting face. The CEO is essentially the face of the company, right after the logo(s). So if I had to chose, Elop seems like a good choice in terms of appeal and leadership (he did save Nokia from completely crashing and burning, and led the rise to Windows Phone becoming the fastest growing OS worldwide, didn't he?).

It's going up every second. At the time the headline was written it was $25.2, but by the time the body was written the interest brought it up to $25.5!

Nokia stock is down right now from where it was this morning. it started dropping and it's slowing heading back up now.

You'd think that if MS is going to shell out that much for Elop, they may have bigger plans for him.

Why would Elop take demotion to VP unless he knew he'd be the next CEO of MS.
The move only makes sense if he get's the CEO position.

Well, he might be that good, so it's ok. I don't hate the guy, I think he did a great job representing and leading Nokia. And who are are we to judge, who barely know the guy.

If he's worth that in this business, he must have done a lot of things right. :)

The only thing wrong about the memo was, that it was a few years too late. Other than that, well done.
The only mistake he made, IMHO, was selling off to M$. But then again, perhaps it was in the cards all along... :-P

CEO of M$ is such a HUGE HUGE role to fill, especially with how they're changing gears with their products and services.  I just don't think Elop could handle this huge behemoth. Staying the chief of devices and services is a good fit for him.

Since MS is moving more towards devices, Elop may be one of the better qualifies people.
Dont forget that he also was the head of MS Office before.

I don't know about what Elop thinks but I like Windows 8.1. Downloaded it from Dreamspark yesterday. But...who am I? :)

Fuck off asshole, Elop's $25Million package is well deserved, haters like you can't do anything about it :) 

Right... because there's a lot of other companies out there that can buy a $280B company... <sarcasm>

Hey c'mon I know you are giving him his due credit, but he is loyal to microsoft. He won't do this with MS. But he can now be sent to samsung or HTC.

Poor guy.  See how much tax he has to pay.  :)
He has helped Nokia to make a transition from Symbian to Windows smoothly and swiftly.  He probably deserves that.  He has also been quietly working on an Android model and that shows he is willing to adopt market reality.  That would certainly help Nokia to survive even without a Microsoft buyout.  He is more flexible than I thought.  I love WP, but they should also add Android to their product portfolios.  Better yet, they should come out with a dual-boot phone and use Android and the advanced camera to promote WP.

I like it.. but they shouldn't have signed the exclusivity contract. they should have got in some get out clauses, for eg to say if MS is very slow in every then get out and add one more line of products.

Anyway he tried his best. The one mistake he did was to send an email about burning platform.. he should have done it slowly. Don't need to announce anything to the world.

That's a low-end Android Nokia is developing. And all low-end Androids are crap, no matter who makes them, and that includes Nokia. So how is their low-end crapdroid going to help them, other than destroying their good reputation?

I haven't seen the specs for that phone.  If they want to do it, it better use colors and the PureView camera as the differentiators.  L1020 for Android should do it.  I still like to see a dual-boot solution if that is feasible designwise.  That would solve the app gap problem right away and promote WP at the same time.

Really as a trojan horse, this guy is damn impressive.Love him or hate him, but you can't ignore what he has done for microsoft. Hey, his next assignment should be at Samsung.

He seems like a very smart and loyal guy, which is probably why Ballmer would highly regard him as his CEO successor.