Yahoo has successfully poached another Google executive, this one the former vice president of Google’s worldwide Partner Business Solutions group. Yahoo has announced that they have appointed Henrique de Castro as the company’s new chief operating officer (COO).
In a statement the company said that De Castro would be responsible for “strategic and operational management of Yahoo!’s sales, operations, media and business development worldwide”, reporting to former Google executive and Yahoo CEO Marissa Mayer directly.
Mayer said “Henrique is an incredibly accomplished and rigorous business leader, and I’m personally excited to have him join Yahoo!’s strong leadership team. His operational experience in Internet advertising and his proven success in structuring and scaling global organizations make him the perfect fit for Yahoo! as we propel the business to its next phase of growth.”
Henrique de Castro’s experience is not going to come cheap for Yahoo however. According to reports he will be paid an annual salary of $600,000 and will be eligible for a bonus of up to 90% of that amount. In addition he will receive a $1 million cash bonus within a week of joining the company and stock options for Yahoo to the value of $56 million over four years.
De Castro will be joining Yahoo on or before 22 January next year, once he has tied things up at Google.
Source: BBC