TBO.com, The Tampa Tribune and The Tampa Times - breaking news and weather
Thursday, Jul 31, 2014
National Business

Fired Yahoo exec gets $58M for 15 months of work


Published:

SAN FRANCISCO — Yahoo’s recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

The disclosure in a regulatory filing may lead to more second-guessing of Yahoo CEO Marissa Mayer’s decision to hire de Castro as her second-in-command in October 2012.

Mayer dumped de Castro in January after concluding he wasn’t executing on her plan for reviving Yahoo’s lackluster ad growth. De Castro had been in charge of ad sales.

Yahoo Inc. previously disclosed de Castro would be getting a severance package, but didn’t reveal the amount until today.

The company’s board said most of the severance stemmed from the costs of luring de Castro from his previous job at Google Inc.

Comments