Nokia boss in line for £16m payout by Microsoft as part of takeover deal

The  Nokia chief who masterminded the sale of its handset division to Microsoft stands to make almost £16million out of the deal.
Stephen Elop left Microsoft to become Nokia’s boss three years ago – receiving a £5.2million golden handshake upon joining the Finnish firm.
But now he will pocket even more by returning to his old employer along with Nokia’s handset division if the £4.6billion deal is voted through by investors.

Deal bonus: Nokia chief executive - and former Microsoft executive - Stephen Elop stands to make £16m from Microsoft's takeover of the mobile phone handset maker

With 70 per cent of his package paid for by Microsoft, Elop will scoop £3.4million in salary and bonuses as well as £12.3million in shares.
The huge payout will increase speculation he is being lined up to become Microsoft’s next chief executive, after the surprise announcement that current boss Steve Ballmer will leave in the next year.
Until last year Nokia was still the world’s number one phone-maker. But the company has struggled to maintain its market share against fleet-footed rivals.
Investors hope Nokia’s tie-up with Microsoft, which makes Windows software, will improve its fortunes.