Yahoo’s ousted no. 2 made more than his boss. COO Henrique de Castro was paid $96 million for his 15 months on the job
Henrique de Castro, who was fired in January as Yahoo’s chief operating officer, was paid handsomely for his largely unsuccessful efforts to turn around the company’s flailing advertising business.
For his 15 months on the job, he received about $96 million in compensation, according to the proxy statement that Yahoo filed on Wednesday.
The largest portion of the payout, $58 million, was severance, which was directly linked to the rise in Yahoo’s stock price during the time he was employed.
Mr. de Castro, a former Google executive, was also awarded $11 million in salary and stock-based compensation in 2013 and $39 million in 2012, according to the proxy, although he lost a large chunk of it because the stock wasn’t fully vested when he left.