Yahoo has
announced that its Chief Operating Officer Henrique De Castro has left the
company after working with the company for only 15 months. De Castro was the
major hire of CEO Marissa Mayer after he took over in 2012.
De Castro was
lured away from Google in 2012 and with lots of money to the extent that he
earned more than Marissa Mayer. A memo sent to workers that was secretly
obtained revealed that De Castro was fired by Marissa Mayer.
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| Henrique de Castro. Image: Google |
“During my
own reflection, I made the difficult decision that our COO, Henrique de Castro,
should leave the company,” Mayer said in the memo.
De Castro
according to reports has failed in bringing more advertising agencies into
Yahoo’s ranks since he came to the company in 2012. There are rumours that
Marissa Mayer and De Castro had been having misunderstandings for about 6
months.
De Castro
earned $44.8 million during his time at Yahoo and is set to receive a severance
package of $64.8 million which includes stocks and other benefits.
De Castro was
vice president partner business solutions worldwide at Google before he came to
Yahoo as the Chief Operating Officer.
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Yahoo dismisses its COO after only 15 months; and with lots of cash