Former Nokia CEO walks away $33.5m richer

Stephen Elop, former Nokia CEO, received a much bigger pay-off than previously predicted.

Following the firm’s mobile handset unit sell finalization to the Microsoft company, Elop walked away with $33.5 million in his pocket, the sum representing his pay-off.

A great part of that is represented by Nokia shares, which have risen after the sell to Microsoft was completed.

The company also specified that 70% of Elop’s pay-off total was covered by Microsoft.

News of the sum Elop received sparked a great deal of angry reaction out of the Finnish people as he is the one they blame for bringing Nokia to its end.

Microsoft acquired Nokia’s mobile unit for a total of $7.5 billion.