Nokia pays CEO for leaving Microsoft

Nokia CEO Stephen Elop really is Nokia’s six million dollar man.

Nokia is a company which is barely alive. And Elop is the man who is supposed to rebuild it.

It has the technology, it had the capability to build the world’s first reconstituted phone maker. Nokia will be that phone company. Better than it was before. Better, stronger, faster.

The only problem is that Elop had to leave his former employer Microsoft in a bit of a hurry and so Nokia has had to write him a $6 million cheque to make up for his lost salary.

According to regulatory filings, Elop received a payment of about $3.2 million last October and is due to receive another $US3 million this October.

Quite why Microsoft stopped paying him was unclear. His first move when joining the company was to sign a $1 billion deal with Redmond to replace Symbian with Windows Mobile 7.

Although it remains the world’s leading mobile phone maker, Nokia has been losing market share like crazy of late and has been unable to get a popular smartphone onto the market.

Elop however has so far yet to prove he is anyone’s six million dollar man.  He has yet to turn the company around, he has not come up with a new smart phone, has not seen the share price increase and has not even tried to battle big foot yet.