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Nokia Corporation (NYSE:NOK): Closing price $
As it endeavors to lower costs and to gain traction in the global mobile device market, Nokia withheld a cash performance bonus for its chief executive in 2012, and also intends to slash capital expenditures by 24 percent this year. On Thursday, the firm said that Chief Executive Stephen Elop received a pay package of 4.334 million euros in 2012, marking a considerable reduction from the 7.995 million euros he received in 2011. The information was disclosed in Nokia’s annual report filed with the Securities and Exchange Commission. Elop’s compensation included a 1.08 million-euro base salary, up 6 percent from 2011, while his performance bonus was reduced to zero.
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