March 7, 2013 / 3:20 PM / 5 years ago

Nokia CEO compensation nearly halved in 2012: filing

HELSINKI (Reuters) - Nokia’s NOK1V.HE Chief Executive Stephen Elop took a 45 percent cut in compensation last year, according to a U.S. regulatory filing, as the company continued losing market share to Samsung (005930.KS) and Apple (AAPL.O) in smartphones.

Nokia's President and CEO Stephen Elop gestures during a news conference at the Mobile World Congress in Barcelona, February 26, 2013. REUTERS/Albert Gea

Elop, hired in 2010 from Microsoft (MSFT.O) to turn the Finnish mobile phone maker around, earned 4.33 million euros in compensation in 2012, down from 7.94 million euros a year earlier.

His base salary rose by 59,500 euros to 1.08 million euros while stock and option awards fell slightly. He earned no bonus, according to the 20-F filing with the U.S. Securities and Exchange Commission on Thursday. ($1 = 0.7692 euros)

Reporting by Ritsuko Ando; Editing by Alison Birrane

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below