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.
- » 57% of Bulgarian Companies to Pay Christmas Bonuses
- » Bulgaria Should Be Year-Round Tourist Destination – Minister
- » Foreign Ministers of Serbia, Hungary Cite South Stream as Project of Mutual Interest
- » Bulgaria’s Advance Properties Acquires 100% Stake in Pharmaceutical Co Huvepharma
- » President Plevneliev Invites Polish Businesses to Invest in Bulgaria
- » Bulgaria C-Bank Governor 'Likely to Resign end-November'