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

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.

http://bits.blogs.nytimes.com/2014/04/16/its-official-yahoos-former-no-2-made-a-lot-more-than-his-boss/?_php=true&_type=blogs&_r=0

Henrique de Castro received about $58 million in a severance package after 15 months on the job as Marissa Mayer's top lieutenant at Yahoo.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s