Fired Yahoo exec Henrique de Castro gets $58M severance package for 15 months of work

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

The package was disclosed in a regulatory filing.

The package was disclosed in a regulatory filing.

SAN FRANCISCO - (AP) - 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 Wednesday.
    
The company's board said most of the severance stemmed from the costs of luring de Castro from his previous job at Google Inc.

advertisement | advertise on News 12

Trending Video

Video: Preparing White House for new president 'organized 1 Video: Preparing White House for new president 'organized chaos'
Workers help build a deck for Boonton resident 2 Nonprofit group builds deck for disabled veteran
Connor Mills is today's Scholar Athlete. 3 Scholar Athlete - Connor Mills
Deshyamma Dalton holds her daughter Ka'naih. The baby 4 State troopers help deliver baby at Port Norris HQ
VIDEO: Preview of PNC Art Center's summer shows 5 VIDEO: Preview of PNC Art Center's summer shows

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE