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Katainen: Ex-Nokia chief's pay package "outrageous"

Prime Minister Jyrki Katainen told Yle Saturday that he considers the pay package former Nokia CEO Stephen Elop will receive on completion of the deal to sell the company’s mobile phone business to Microsoft as being "quite outrageous".

Jyrki Katainen TV1:n Ykkösaamussa lauantaina. Image: Yle
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Elop is to receive 18.8 million euros once the deal to sell Nokia's mobile phone business to his former employer, Microsoft, goes through.

In an interview on Yle Tv1 Saturday morning, Prime Minister Jyrki Katainen said that the sum sounded "quite outrageous".

"Many, with reason, are sure to be thinking about what is reasonable," Katainen added.

The Prime Minister said that it is disturbing that especially during difficult economic times, such bonuses cannot be rationally justified. This, he noted, adds to a feeling of unfairness.

"Apparently the practices of rewards by large corporations all over the world are so exceptional that they cannot be comprehended by common sense," stated Katainen.

Elop enjoyed preferential tax status in Finland

Nokia boss Elop to make €18.8m from Microsoft deal

End of an era: Nokia sells phone business to Microsoft

Sources: Yle

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