Nokia CEO compensation nearly halved in 2012: filing

Published March 07, 2013

| Reuters

HELSINKI – Nokia's 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 in smartphones.

Elop, hired in 2010 from Microsoft 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)

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