Yahoo CEO Marissa Mayer hires top Google executive as new COO

By on October 16, 2012, 7:30 AM

On her first day back from maternity leave, Yahoo CEO Marissa Mayer hired a top sales executive from Google to serve as the company’s new chief operating officer. Henrique De Castro was persuaded to join his former colleague at Yahoo as part of a package that could cost the company upwards of $60 million.

De Castro will start at Yahoo with a base salary of $600,000 and will be given up to $36 million in stock depending on how long he stays with the company and how well Yahoo does during his time on board.

Furthermore, he is also being granted $1 million to make up for salary he would have earned if he stayed at Google and another $20 million in stock to replace Google stock he owns that has not yet vested.

47-year-old De Castro led publisher relations at Google. He formerly served as the search giant’s president of media, mobile and platforms. Before his time at Google, the executive served as a consultant for McKinsey & Co and managed Dell’s European sales and business development team.

Mayer said the new COO is an incredibly accomplished and rigorous business leader and that she was personally excited to have him join Yahoo’s leadership team. De Castro highlighted Yahoo’s high-quality content, its renewed focus on creating an outstanding user experience and its massive reach.

A spokesperson for Google said they were grateful to Henrique for all of his contributions and wish him the best in his new role at Yahoo.




User Comments: 3

Got something to say? Post a comment
RajeGera RajeGera said:

Fact says..Yahoo's this year revenue is just 10% of what it was in 2000.It will be good to see what changes comes in mail and messenger service of yahoo.

tomkaten tomkaten said:

Hell, I would have jumped ship to (even to a sinking one) for 60 mil in wages, benefits and stock.

SalaSSin said:

IANABA (I am not a business analyst) But when both the CEO & COO of Yahoo are from Google, it kinda reminds me of the recent Nokia changes.

Hostile takeover in the making?

Load all comments...

Add New Comment

TechSpot Members
Login or sign up for free,
it takes about 30 seconds.
You may also...
Get complete access to the TechSpot community. Join thousands of technology enthusiasts that contribute and share knowledge in our forum. Get a private inbox, upload your own photo gallery and more.