Nokia pays Elop over $6 million to move from Microsoft

HELSINKI Fri Mar 11, 2011 8:04am EST

Nokia President and CEO Stephen Elop delivers a speech at the GSMA Mobile World Congress in Barcelona February 16, 2011. REUTERS/Gustau Nacarino

Nokia President and CEO Stephen Elop delivers a speech at the GSMA Mobile World Congress in Barcelona February 16, 2011.

Credit: Reuters/Gustau Nacarino

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HELSINKI (Reuters) - World's top phone maker Nokia will pay its CEO Stephen Elop more than $6 million in one-time payments for moving to the Finnish company from Microsoft last September, a corporate filing showed on Friday.

As compensation for lost income, Nokia paid Elop last October 2.3 million euros ($3.18 million), and will pay a further $3.0 million in October 2011, according to Nokia's annual 20-F form filed with the U.S. securities and Exchange Commission.

Elop's total gross base salary is 1.05 million euros, slightly below his predecessor Olli-Pekka Kallasvuo, whose base salary was about 1.18 million in 2009.

(Reporting by Jussi Rosendahl and Tarmo Virki; Editing by Jon Loades-Carter)

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