Yahoo COO De Castro gets to leave with massive severance

Former Yahoo CEO Henrique de Castro will walk away with $58 million in severance, after being fired just 15 months into the job.

CEO Marissa Mayer personally hired de Castro away from his position at Google in early 2013 and admits Henrique "was not a fit and that's a regrettable conclusion."

De Castro received $1.14 million in salary and bonuses, and $56.8 million in Yahoo stock that doubled in value in 2013 thanks to Yahoo's strong performance.

Mayer, as chief of the company, made $25 million last year in salary and bonuses.

Written by: Andre Yoskowitz @ 17 Apr 2014 21:01

ronhondo

It is this kind of crap that give the Socialist's and Communist's food for thought. Disgusting !

18.4.2014 08:06 #1

mightyzog

It's great when failure is rewarded.

18.4.2014 09:27 #2

xboxdvl2

i thought retired politicians got a lot, guess they should work for yahoo instead they'd get more in less working time.

custom built gaming pc from early 2010,ps2 with 15 games all original,ps3 500gbs with 5 games all original,yamaha amp and 5.1channel surround sound speakers,46inch sony lcd smart tv.

18.4.2014 10:40 #3

Mrguss

Did he ever gonna pay his (1960's minimum tax for wealthy people only) taxes out of that; or just renounce his Citizenship, pay $0 on taxes and most likely move to Europe, like many rich class people do !?

IRS, where that f*** are you !?
lol

Live Free or Die.
The rule above all the rules is: Survive !
Capitalism: Funnel most of the $$$ to the already rich.

18.4.2014 16:37 #4

Interestx

$58 million that's not going into R&D, company infrastructure or employee's salaries and/or pensions (except his, of course).

This 'exec pay' BS is just typical snouts in the trough getting what they can before leaving quickly before the chickens come home etc.

It's about time there was a max pay limit to stop these ludicrous excesses, it is simply hurting companies & consumers (not to mention ordinary share-holders).

19.4.2014 11:26 #5

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