Henrique De Castro, the Chief Operating Officer (COO) of Yahoo, is leaving the company, according to a regulatory filing. De Castro's departure date is January 16, wrote TechCrunch.
A former Google executive, De Castro joined Yahoo in 2012 just a few months after Marissa Mayer became the Chief Executive Officer (CEO). An Adweek report last fall suggested that the COO was under mounting pressure from Mayer to improve ad revenue. The said article and other related stories also suggested that De Castro was likely to leave soon because of the strained relationship between him and Mayer, the report explained.
Yahoo had beat analyst estimates in its latest earnings, but its revenue was still zero. In addition, the company's display ad revenue was also down, the report added.
In a brief statement, the filing said about De Castro's departure: "Henrique de Castro, Chief Operating Officer of Yahoo! Inc. (the "Company"), will be leaving the Company effective January 16, 2014. Mr. de Castro will receive the severance benefits provided for in his Employment Offer Letter, dated October 15, 2012, Severance Agreement, dated February 28, 2013, and equity award agreements."
Business Insider noted that De Castro's employment package included a $20-million stock bonus. The offer also had performance-based stock options on top of a $50,000 monthly base salary, TechCrunch reported.
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