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Money

May 02, 2025 10:26 GMT

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.