Elop’s Nokia “golden parachute” swells to $33m




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HELSINKI – Nokia boss Stephen Elop will get 24.2 euros ($33.4 ) in cash and shares after leaving the Finnish , more 25 percent higher originally envisaged following a surge in its share price.

Nokia announced in September a 5.6--euro deal sell its handset unit .

Elop himself is returning the software giant after the deal closed on , and based on Nokia’s share price in September he had been in line get around 18.8 euros for the early termination his .

Elop, whose severance includes just over 4 euros in cash, stood down as Nokia chief executive in September and led the phone unit from then until the closing the deal . The unit’s operating loss widened to 306 million euros in the first quarter this year.

paid 70 percent the severance , and Nokia the remaining 30 percent, Nokia said in its 2013 annual report.

In a separate filing, Nokia said Elop’s successor’s base salary smaller his, Rajeev Suri set to get 1 million euros, compared 1.1 million euros in Elop’s . (Reuters)