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Nokia Mistaken In Saying Elop's Contract Was Same As Predecessor's

wochit news
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September 24, 2013 AT 11:47 AM
Nokia's interim boss Risto Siilasmaa said he erred in describing a clause in former chief executive Stephen Elop's employment contract, which resulted in a $25.4 million termination payment, as similar to his predecessor's. Elop, the ex-Microsoft executive hired to turn Nokia around, stands to receive the pay off if shareholders approve Nokia's plans to sell its handset business to Microsoft.