Yahoo’s COO, Henrique De Castro, is leaving the company after just a little more than a year on the job. As COO de Castro was responsible for turning around Yahoo’s disappointing advertising sales. De Castro was lured away from Google, as VP of Parter Business Solutions, not long after Marisa Mayer took helm of Yahoo.
The 8-K filing with the U.S. Securities and Exchange Commission is short and sweet:
Departure of Officer
Henrique de Castro, Chief Operating Officer of Yahoo! Inc. (the “Company”), will be leaving the Company effective January 16, 2014.
Mr. de Castro will receive the severance benefits provided for in his Employment Offer Letter, dated October 15, 2012, Severance Agreement,
dated February 28, 2013, and equity award agreements.
This departure may be more an action by Yahoo’s part than it is de Castro’s doing. According to Kara Swisher of re/code, many Yahoo insiders referred to De Castro as “Dead Man Walking” expecting his tenure to be cut short at any moment. According to Swisher, the COO and Mayer often butt heads in meetings to which one person stated, “It was really awkward.” Apparently de Castro was a polarizing personality throughout Yahoo and it didn’t help his case that ad sales continue to lag despite positive turnaround across other business units.
At any rate, it looks like de Castro will be swooping up a nice hefty severance package. At the time of his hiring his entire compensation package was worth in excess of $60 million including $20 million in restricted stock units.