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Yahoo's Chief Operating Officer Surprisingly Quits

Business | January 16, 2014, Thursday // 17:49| Views: 2102 | Comments: 0
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Bulgaria: Yahoo's Chief Operating Officer Surprisingly Quits Yahoo! President and CEO Marissa Mayer delivers a keynote address at the 2014 International CES at The Las Vegas Hotel & Casino on January 7, 2014 in Las Vegas, Nevada. Photo by Getty Images

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.

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Tags: Yahoo, Google, Henrique de Castro, president, CEO, Marissa Mayer
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