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Former Yahoo COO de Castro Made Tidy $3.8 Million Per Month
Yahoo COO and former Googler Henrique de Castro was fired by CEO Marissa Mayer in January. At the time, there was considerable reporting (and surprise) about the size of his golden parachute, which Forbes said was worth a whopping $109 million.
He wasn’t eligible for all of it, however, given a four year vesting period. He was the first significant hire Mayer made as Yahoo CEO.
USAToday reports that de Castro actually collected $58 million — or the equivalent of $3.87 million per month for the 15 months of his brief tenure at Yahoo. Much of that compensation was tied up in Yahoo stock.
No wonder the man is smiling.
But for the Alibaba-bump in the value of the company’s shares, de Castro’s package would have been worth more like $17 million says USAToday.
Earlier this week Yahoo reported better than expected quarterly results, including modest growth in its core search and display businesses.