Yahoo COO Henrique de Castro departs; no reason given

REUTERS/Robert Galbraith/Files

REUTERS/Robert Galbraith/Files

REUTERS

, Last Updated: 5:40 PM ET

SAN FRANCISCO - Yahoo Inc chief operating officer Henrique de Castro, the high-profile executive chief executive officer Marissa Mayer poached from Google Inc shortly after she took the helm, will be leaving on Thursday after about a year on the job.

Yahoo did not give a reason for his abrupt departure in a Wednesday filing. At the time of his hiring, Mayer was building a management team to try and revive flagging sales and traffic, and cited de Castro's Internet advertising expertise as a key asset.

De Castro will get severance benefits as laid out in his Oct. 15, 2012 employment letter, including equity awards, according to the filing.

Representatives for Yahoo did not respond to requests for additional comment.

Yahoo is one of the world's most-visited online properties, but revenue has declined in recent years amid competition from Google and Facebook Inc. Mayer has built a senior leadership team and is now in the midst of engineering a turnaround at the once dominant Web icon.

 


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