As any fool knows from today’s announcement, it’s $33.5 million – the severance paid to Nokia’s CEO Stephen Elop.
What’s’ the reward for reducing a $15 billion value company to $8.6 billion in nine years?
As any fool knows it’s a new three year contract as CEO which was awarded to ST CEO Carlo Bozotti last week.
Clearly the greater the destruction, the bigger the CEO’s reward.
On this scale of destruction/reward, Bozotti will have to destroy ST’s value much faster if he’s to qualify for a $33.5 million pay-off.