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Yahoo’s Chief Operating Officer Henrique De Castro is departing the company, according to a regulatory filing. His departure date is tomorrow, January 16.
De Castro joined Yahoo from Google in 2012, a few months after Marissa Mayer took over as CEO. However, a report in Adweek last fall suggested that De Castro was under increasing pressure from Mayer to deliver better ad numbers. The Adweek story and related reports suggested that the relationship between the two executives had become strained and that De Castro was likely to depart soon.
In its most recent earnings, Yahoo managed to beat analyst estimates, but its revenue was essentially flat, with display ad revenue down.
Here’s the brief statement about De Castro’s departure in the filing:
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.
As noted by Business Insider, De Castro’s employment offer included a stock bonus of $20 million, as well as performance-based stock options and a base salary of $50,000 a month.