Elop to receive $25m for joining Microsoft

Stephen Elop is to get $25m for jumping ship to Microsoft after the $2.7bn deal to buy Nokia’s devices division is completed.

Elop is no stranger to large sums of cash receiving a huge $6.2m payout after joining Nokia three years ago.

Microsoft won’t be the only company to pay Elop though, with 30 percent of the $25m price tag coming directly from Nokia.

The large sum of money that Microsoft is willing to pay to get Elop to move back to Microsoft, adds fuel to the speculation that the 49-year-old Canadian could take the helm after Steve Ballmer steps down.

The company had no update during an investors meeting last night on whether a replacement for Ballmer had been found, but Elop is currently the likely choice.

Elop’s no stranger of being at Microsoft, having left Microsoft to become Nokia’s CEO.

Source: WSJ