Friday, April 18, 2014

Yahoo's recently fired chief operating officer gets a $58million severance package after working for Yahoo for only 15 months...

Yahoo’s recently fired chief operating officer has received a final severance package of $58million after only working at the internet company for 15 months.

A new regulatory filing released Wednesday revealed the eight-figure payout that Henrique de Castro was given by his former boss, Marissa Mayer, after she both hired and fired him in just over a year.

Mayer dumped de Castro, who was in charge of ad sales, in January after concluding he wasn't executing on her plan for reviving Yahoo's lackluster ad growth.

'Ultimately, Henrique was not a fit and that's a very regrettable conclusion,' Mayer told analysts in late January.

'And it's a conclusion that we tried very hard to avoid, but it was the right decision in the end for the company.'

After making the expensive mistake, Mayer has said she won't pick another chief operating officer. Full story...

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