Stephen Elop refused Nokia pleas to take smaller payout, says report

The topic of CEO compensation is a thorny one around the world, but it's of most pressing interest in Finland right now, where an entire nation is reeling from the loss of its most iconic business. Many in the country, including its prime minister, find it unconscionable that Stephen Elop — the Canadian boss who led Nokia right up until the sale of its phone division to Microsoft earlier this month — is receiving a final payout of $25 million for his efforts. The sale in itself, rightly or wrongly, is perceived as a betrayal by Elop, so the lump sum payment he's now entitled to feels like adding insult to injury.

Cognizant of that precarious situation, Nokia has apparently urged its outgoing CEO to accept a reduced compensation...

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