Yahoo No 2 executive shown the door by Marissa Mayer

Jan 17 2014, 10:16 IST
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Henrique De Castro delivers a speech during the Cannes Lions 2010 International Advertising Festival in Cannes. Reuters Henrique De Castro delivers a speech during the Cannes Lions 2010 International Advertising Festival in Cannes. Reuters
SummaryHenrique de Castro, wooed away from Google by Mayer, is walking away with stock award of $20 mn.

Yahoo’s No. 2 executive, Henrique de Castro, has been fired by his boss, Marissa Mayer, a little more than a year after she wooed him away from Google to help her turn around the struggling internet company. Yahoo announced de Castro’s departure in a terse, two-sentence document filed with the Securities and Exchange Commission after the stock market closed on Wednesday.

There was none of the usual corporate boilerplate that typically sugarcoats such departures — no praise for his service from Yahoo’s chief executive, Mayer, no mention of a sudden interest that de Castro had taken in spending more time with his family. A Yahoo spokeswoman said the company had no further comment on the matter.

But Mayer, who left Google to become Yahoo’s chief executive in mid-2012, was clearly displeased with de Castro’s performance. In a memo announcing the leadership reorganisation to Yahoo’s staff, she wrote, “I made the difficult decision that our COO, Henrique de Castro, should leave the company. I appreciate Henrique’s contributions and wish him the best in his future endeavours.”

“Overall, I’m confident that the leadership team, our direction, and these changes will enable even more successful execution,” she wrote near the end of the memo.

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