The board of Yahoo was counting on Henrique de Castro to help turn the embattled search company around that it offered him larger pay than Yahoo Chief Executive Officer Marissa Mayer when it hired him in 2012, The New York Times blog Bits reported. After his performance left much to be desired, de Castro was fired from his job.
Citing data from compensation research company Equilar, the report said de Castro will still be leaving Yahoo with anywhere from $88 million to $109 million for his one year and three months of service. The report said the exact figure will be dependent on whether he will get his entire performance award for last year and is made under the assumption that he was not removed from his job for cause like stealing from the firm or stating false details on his resume.
The report said the de Castro's pay was still sky high, even by the standards of Silicon Valley. According to Equilar, he ranked eighth in 2012 among the region's highest paid executives, the report said. Equilar said that his total compensation package reached $39.2 million. This was way more than what experienced leaders received. John Donahoe of eBay got only $29.7 million, Marc Benioff of Salesforce.com received $22.1 million and Meg Whitman of Hewlett-Packard got $15.4 million. It was even higher than the $36.6 million received by his boss, Marissa Mayer, the report said.
The report said de Castro can hardly be considered a superstar in the tech world. His record at Google was spotty, as he was demoted to a "special projects" role on a one-man team from being a manager of media and platforms. The demotion was not a good sign for someone counted upon to help Yahoo back on its feet even if he was promoted back to a larger role several months before he decided to join the team at Yahoo, the report said.
Join the Conversation