National

Apr 17, 2014 10:21 AM by Bob Grotenhuis

Fired Yahoo Exec Gets Massive Severance

Yahoo's recently fired Chief Operating Officer, Henrique De Castro, left the internet company with a severance package of $58 million even though he lasted just 15 months on the job.

The disclosure in a regulatory filing yesterday may spark more criticism about Yahoo CEO Marissa Mayer's decision to hire De Castro as her second-in-command in October 2012.

De Castro, a top google sales exec, was hired to revive Yahoo advertising.

His exit package outpaced mayer's 2013 compensation, valued at $25 million. She gained an additional $21.2 million from vested shares, Yahoo said in a preliminary proxy.

In defense of De Castro's hiring and sign-on package, Yahoo said its board of directors believed 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 and would best serve long-term shareholder interests."

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