Former executive leaves Yahoo $58m short

Former chief operating officer, Henrique de Castro, who was recently fired from Yahoo due to his poor performance on the job, left the company, after 15 months on the job, with $58 million dollars richer.

Although Yahoo mentioned that Castro would receive a severance package, they did not disclose the amount until yesterday. This is even more surprising as Castro wasn’t even deemed worthy of the $540,000 bonus he received in 2013.

‘The board believed at the time Mr. de Castro was hired that he had a unique set of highly valuable skills and experiences that would be key to returning the company to long-term growth and success,’ explained Yahoo’s compensation committee.

They also said that a large amount of the severance was the result of the costs of luring Castro from his previous job at Google and the fact that Yahoo’s stock doubled, even though not as a consequence of Castro’s work in the company.

De Castro was hired at Yahoo in October 2012 as Marissa Meyer’s second-in-command and he was in charge of handling ad sales.