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.
- » 1438 Square Meters of Concrete were Removed from the Seaside of Sunny Beach Resort
- » Bulgaria’s Q4 Household Spending Rises 13%
- » Environment Minister Signs Contracts for Construction of Waste Handling Plants
- » UK to Seek EU Mutual Recognition Deal For Financial Services
- » Bitcoin is Currently over $10,000
- » Liza Minnelli Auctions Cabaret Outfit in Huge 'Downsizing' Sale