The news that Stephen Elop is receiving a pay-off of €18.8m to move from Nokia back to Microsoft will be the last nail in the coffin of his reputation in Finland, where many people resent what happened under his leadership of the national champion.
Mr Elop’s decision, on becoming chief executive of Nokia in 2010 to bet the future of its mobile phones on Microsoft Windows software, didn’t work. He rejected the more obvious path of adopting Android for its smartphones. Instead, Nokia has struggled to turn Windows into a rival to the Google platform or Apple’s iOS.
As the Lex column notes, Mr Elop is getting the money despite Nokia’s market capitalisation having fallen from €28bn to €18bn under his leadership. That hardly suggests he deserves a big payout. Read more