The total compensation package of Nokia’s CEO Olli-Pekka Kallasvuo fell by 45 percent last year, mostly due to a lower bonus, according to a document filed with the SEC today. Reuters reported Kallasvuo was paid 1.87 million euros ($2.35 million) in salary and bonuses last year, compared to 3.39 million euros in 2007. Kallasvuo’s salary actually increased by about 10 percent to 1.14 million euros in 2008, but his overall compensation was affected by his cash bonuses, which sank to 721,733 euros from 2.35 million in 2007. The drop is similar to the trajectory of Nokia’s share price, which plunged 59 percent over the same period.
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