In financial disclosures and articles that came out on Thursday, the ex Microsoft executive who is heading to Microsoft in the companies purchase stands to gain $25 million.
Stephen Elop who was the CEO and President of Nokia in Finland, led the company in the past few years, but has a tremendous amount of Microsoft in his blood. The various statements that came out on Thursday detail his compensation and may lead to his becoming the new Microsoft CEO.
Elop’s Microsoft Past
During his tenure at Microsoft, Stephen Elop was the head of the Business Division from January 2008 to September 2010. He led the line of Office and Dynamics products within Microsoft, and used his past experiences at Lotus and Adobe to gear Microsoft’s businesses to huge profitability.
$25 Million to Microsoft
As Stephen Elop makes his move to Microsoft in the companies purchase, he has certain guarantees that will make him salary and incentives. The estimated $25 million comes via the closing stock price of Nokia, a percentage of stock awards, and Microsoft guaranteeing a certain percentage of the amount. Either way, Stephen Elop will gain a ton of cash in his return to Microsoft. He made $6.2 million to join Nokia, and now $25 million to return back to Microsoft.
Stephen Elop Next Microsoft CEO?
There is a ton of speculation regarding whether or not Stephen Elop will be the next CEO at Microsoft. While he is surely a front runner with tech experts and analysts, a number of other names have gotten pushed to the head of the list. Either way, Microsoft gains a valued executive in his return to Nokia, and he stands to gain $25 million in his return to Redmond.
Stephen Elop coming back to Microsoft involuntarily is a good thing for the company. He can bring what he learned at Nokia to help guide Microsoft’s mobile future. How long he will stay at Microsoft is unsure, but his return and name in the tech industry gives his return a huge plus for the company.