Microsoft's $25 Million Man
BLOOMBERG | Alexander Zemlianichenko Jr
Steve Ballmer, chief executive officer of Microsoft Corp.,
right, and Stephen Elop, chief executive officer of Nokia Oyj, shake hands after
a presentation of the new Nokia Lumia 920 smartphone at a news conference in
2012 in Moscow. Elop will receive a compensation package worth about $25.5
million when he rejoins Microsoft as an executive.
- Emily Parkhurst
- Staff Writer- Puget Sound Business Journal
- Email | Twitter | LinkedIn | Google+
Microsoft will pay Elop 70 percent of that package, and Nokia will cover the remaining 30 percent, according to documents filed Thursday with the Securities and Exchange Commission.
Elop is rumored to be on the short list to replace Steve Ballmer as CEO when he retires sometime in the next 11 months. Currently, Ballmer’s compensation is just over $1 million plus bonuses – he declines the equity package that would typically be provided to someone at his level because he is already the second largest Microsoft shareholder. (Bill Gates is the largest.)
Elop’s payout is large, but not overly so when compared to other recent executive transition packages. Don Mattrick, who ran Microsoft’s Xbox division, recently left the company to take the top spot at social gaming company Zynga. That move brought him a compensation package worth about $50 million, including a $5 million cash signing bonus.
Of course, that's paltry compared to Silicon Valley's highest-paid execs. See who topped that list (with pay of $96.2 million) here.
Emily Parkhurst covers the technology industry for the Puget Sound Business Journal/TechFlash.
Comments
If you are commenting using a Facebook account, your profile
information may be displayed with your comment depending on your privacy
settings. By leaving the 'Post to Facebook' box selected, your comment will be
published to your Facebook profile in addition to the space below.
When it comes to perfect Bath Accessories for our homes, which are often very suspicious that it is difficult, time consuming and expensive decision, but there are a variety of forms, and aspects that can be considered to give a better chance if the achievement Ideal bathroom next to you wanted.
ReplyDeleteFor More Detail us at: http://www.ukbathroomhub.co.uk/baths.html
It is exciting to imagine Buy Casual Salwar Kameez Online India asked the reinvention of popular ethnic wear. Suits emerged as one of the major trends that ethnic wear framework, increasing ease of use and offer great variability in the shade.
ReplyDeleteMore Details: http://www.nituwears.co.in/casual-suits.html