Nokia mistaken in saying Elop's contract was same as predecessor's

HELSINKI (Reuters) - 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 an 18.8 million-euro ($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. Siilasmaa had previously said Elop's predecessor Olli-Pekka Kallasvuo had a similar employment deal, but on Tuesday said he was wrong. ...

via Tech News Headlines - Yahoo! News http://news.yahoo.com/nokia-mistaken-saying-elops-contract-same-predecessors-164718796--finance.html