Yahoo CEO Marissa Mayer Fires Company’s COO

Henrique de Castro will head out the door after 15 months with a $20 million stock bonus

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Jason Alden / Bloomberg via Getty Images

Yahoo CEO Marissa Mayer is firing the company’s second-in-command, according to a document Yahoo filed with the Securities and Exchange Commission Wednesday.

Henrique de Castro was Mayer’s first major hire at the company. She convinced him to leave Google and join her at Yahoo as COO in October 2012, luring him with a four-year $62 million deal.

De Castro and Mayer, however, reportedly did not get along — a situation that became particularly pronounced over the last few months. His departure was long expected by close watchers of the company, per technology news website Recode. Recode also posted Mayer’s memo announcing De Castro’s departure:

“During my own reflection, I made the difficult decision that our COO, Henrique de Castro, should leave the company,” Mayer wrote. “I appreciate Henrique’s contributions and wish him the best in his future endeavors.”

Thursday will be De Castro’s last day at the company. As part of his severance package, de Castro will receive a $20 million stock bonus, per Yahoo’s SEC filing.

Yahoo is in the midst of a Mayer-spearheaded realignment, which includes moves in the media and technology spaces.

24 comments
SoLongYahoo
SoLongYahoo

Whoever decided to get rid of yahoo classic games should be fired.  It was the only reason many people (myself included) used yahoo and the only place I saw ads on yahoo.  If you are trying to boost your ad revenue, try to not cut out services people love.

Strani
Strani

I'm not too happy with Yahoo closing its My Yahoo sites for Germany and France today. Not all users want to be forwarded to the US version. I moved on to http://www.start.me which in fact I like better. But others might still be looking in the dark.

TonyJackTony
TonyJackTony

I hope Marissa Mayer quick learn in becoming a good CEO, before too late for her to make yahoo a powerhourse again. If Steve Job who are not techie background can revive Apple,Marrisa Mayer should could do more.


To know what to do to help yahoo is to know / find out why advertiser put less money at yahoo.

i guess the reason is because yahoo product development team are not make yahoo product portfolio clear and attractive enough for advertiser to put ad,they just busy developing and acquire product but not integrate and monetize it well,


Marrisa Mayer need to find person as qualified as sheryl sanberg as COO.

Tiger-Pi
Tiger-Pi

Yahoo has lost almost all of its young  patrons as it now seen as  a staid, conservative and unimaginative network unlike Google who has been innovating almost on a daily basis. Very few, if any use Yahoo on their smart phones, at least to what I know, in  Asia. And of course fewer people use e-mails for communication preferring  the faster means now available including texting, Twitter etc.

JFKthePimp
JFKthePimp

The CEO is PMSing..


LOOK OUT BELOW!

DantonSteele
DantonSteele

did you see that scene in rock of ages where chico jesuses little brother watches alec baldwin and russ brandt hookup?

thats what she wants to do.....

YankeeMuse
YankeeMuse

For $62M this guy couldn't please the ONE person he needed to please?  And then he's rewarded for being a jerk with a $20M bonus?  I'm without speech.

MR_Chatila
MR_Chatila

u fail u get $20M severance in stocks and pay…. 


u just gotta love #capitalism !!! :)

SeanD
SeanD

Miller will leave when she gets her $2,000,000,000 severance gift. These executive compensation sky-flation packages need to be stopped. The problem is that other executives determine these payments and given that their compensation is determined by the stats on those they "govern" this rape of the stock holders and the workers on whom they trample will perpetuate until the economy collapses or there is a revolt. 


I loved how her comments caused un-called-for abuse too this guy she brought in. Oink Oink Oink. I think that is what she actually said before it was submitted to a humanizer artificial intelligence language converter. The language of today's executives.

MatchewAllean
MatchewAllean

20.....million...exit......bonus? Jesus, I'm in the wrong business. 

RexRiver
RexRiver

Yahoo has seen it's last days. Going the way of Myspace. Marissa have destroyed, the Front page, Sports Page,  Technology page. Movie page, and she keeps  changing it's E-mail layout every 6 months. I miss the good ole days ten years when it was a clean and easy site to use. Now it's nothing but clutter and a mess..

CharlesBoyer
CharlesBoyer

The smartest thing Marissa Mayer could do is to merge herself out of a job.  Microsoft, or even Amazon or Apple could take the best parts of Yahoo and present a formidable challenge to Google.  Yahoo is a dead man walking on its own.

Hotpuppy
Hotpuppy

The only mystery here is when will Mayer leave - before or after destroying Yahoo?  

Openminded1
Openminded1

Well he will not have to collect unemployment, or get food stamps. Women are tough to work for, do not under estimate them.

DerekWildstar
DerekWildstar

@YankeeMuse How can you say that de Castro is a "jerk," when we don't even have the details behind his departure? The reason for his $20 million was because he was already a high placed executive at Google and making a good deal of money. How else would you get him to resign and join Yahoo?

DerekWildstar
DerekWildstar

@MR_Chatila, and you think you can do better? Oh please…that only goes to show that you don't know a bit about "Capitalism," but hey, ignorance never stopped anybody from expressing an opinion…lol

HawgzWylde
HawgzWylde

@MR_Chatila 

Lol, that ain't capitalism, that's corrupt cronyism. Far too many do not know the difference between entrepreneurial capitalism and crony capitalism. The latter is always in bed with socialists, fascists, and even communists(China). And you are aware Marrissa Mayer is one of Obozo's largest campaign fund bundlers right? Google? Facebook? Both in bed with this administration...

DerekWildstar
DerekWildstar

@SeanD Oh please, why don't you focus more on your life instead of fretting about other people's compensation packages.  Unless you are a stockholder at Yahoo, and see the market value go down as a result, why bother….That's a real problem we have in society, most everyone thinks they know how much other people should be paid….

SomewhatTasteful
SomewhatTasteful

@RexRiver You are absolutely correct. 


I cannot use My Yahoo any longer...no stock ticker that I could find, weather only for one area (I monitor weather in two areas), not to mention the new layout of My Yahoo and email is dreadful and no longer streamlined or efficient. If these are Mayer's doings, she will send Yahoo to its final flush.

postingonline42
postingonline42

@CharlesBoyerWhy would apple want a stylistic mess that does not even one thing well? Microsoft on the other hand.....