Nokia Chief Executive Rajeev Suri has been handed a 5% pay rise for 2016, bringing his base annual salary to 1.05 million euros ($1.2 million), an SEC filing revealed Friday.
Mr. Suri, who has headed Nokia since 2014, will pocket an extra EUR50,000 a year compared with last year to reflect “a combination of Mr. Suri’s performance and the enlarged role he takes on in 2016 following the acquisition of Alcatel-Lucent,” the filing stated.
His on-target bonus remains unchanged at 125% of his base salary, equalling EUR1,312,500 and he will receive shares worth EUR3.025 million based on current market prices.
Nokia shareholders approved the EUR15.6 billion acquisition of Alcatel-Lucent in December last year. The two companies started working as an operationally combined group on Jan. 14, 2016.
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