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Yahoo chief operating officer out

Posted on January 16, 2014
Yahoo! President and CEO Marissa Mayer delivers a keynote address at the 2014 International CES at The Las Vegas Hotel & Cas

Yahoo! President and CEO Marissa Mayer delivers a keynote address at the 2014 International CES at The Las Vegas Hotel & Casino on January 7, 2014 in Las Vegas, Nevada
Yahoo chief operating officer Henrique de Castro is walking away with a stock award of $20 million as the company struggles to boost revenues, regulatory filings showed.

The California-based Internet firm’s second-in-command will be out effective Thursday, having served in the post about 15 month’s since being hand-picked by chief executive Marissa Mayer shortly after she took charge.

Yahoo did not reveal the reason for the departure, but speculation was strong that the company’s advertising revenues were not improving quickly enough.

As part of her mission to revive the company, Mayer has made a slew of acquisitions, including blogging platform Tumblr. She has also revamped Yahoo pages and its free email service.

Mayer took over as Yahoo chief in July 2012, and her plan to revitalize the company includes being at the center of people’s Internet habits, especially on mobile devices.

Read more at: Phys.org

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