Yahoo's Chief Operating Officer Surprisingly Quits
Yahoo's chief operating officer has unexpectedly departed the company just over a year after he was hired to turn its advertising business around.
Henrique de Castro, Yahoo's second most senior executive, is leaving this week.
The reason for the surprise move was not disclosed.
His departure deals a blow to the firm's efforts to revive flagging sales and internet traffic in the face of increased competition from rival sites.
It may also be an expensive loss for chief executive Marissa Mayer.
Castro is one of Silicon Valley's most highly-paid executives and may receive a multi-million-dollar severance package.
According to reports, there were tensions between Castro and Mayer, who had poached him from Google shortly after she took over at the company.
Castro's main role was to act as Yahoo's top sales executive and build relationships with key advertising clients.
However, the company has failed to significantly increase advertising revenues for its website and mobile applications.
- » Bulgaria's Q2 GDP Records 2.2 % Growth Y/Y
- » Turkish MPs Prolong Mandate for Cross-Border Military Operations Against IS, PKK
- » Russia Bans Products Certified in Bulgaria over 'Fake Papers'
- » Over 60 German Firms Show Interest in Investing in Bulgaria - EconMin
- » Bulgaria Still Pinning Hopes on Gas Hub Project with Russia
- » Palletways Adds Bulgaria, Romania to Its Delivery Network