Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Henrique de Castro out as Yahoo COO

January 15, 2014: 4:46 PM ET

Henrique de Castro lasts just 15 months as Yahoo's number two.

131009144753-mpw13-highest-paid-men-ku-bigpic-620xa

FORTUNE -- Henrique de Castro, the Yahoo (YHOO) chief operating officer known for his Google (GOOG) pedigree and massive compensation, is out.

The company announced in an SEC filing that tomorrow will be de Castro's last day, and did not provide any information about his successor.

De Castro joined Yahoo in late 2012 after a six year run at Google where his final role was as VP of the company's global Partner Business Solutions group. Before that he had led Google's display, mobile and platforms business. Before that he had been with both Dell Corp. and McKinsey & Co.

He was the highest-profile hire for Yahoo CEO Marissa Mayer -- also an ex-Googler -- and was easily the country's highest-paid COO. In its SEC filing, Yahoo said that he will receive the severance benefits provided in his employment letter -- but did not break it down further or specify any departure-related payments (unclear if this is officially a termination or resignation). He currently holds around 271,000 shares in the company, worth approximately $11.13 million.

Kara Swisher, a tech journalist known for her Yahoo sources, wrote the following after the news broke:

De Castro — who was a polarizing figure at Google, where CEO Marissa Mayer had hired him from — quickly became the same polarizing figure at Yahoo. In recent months, according to numerous sources, he and Mayer had developed a tense relationship that many in meetings with the pair found it hard not to notice.

Besides these interpersonal issues, perhaps most importantly was that De Castro was unable to move the advertising business, which has continued to lag as Mayer's two-year anniversary nears.

Sign up for Dan Primack's daily email newsletter on deals and deal-makers: GetTermSheet.com

Posted in:
Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.