Fired Yahoo exec gets $58M severance after only 15 months
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How would you like to be fired from your job because you were bad at it and still receive $58 million?
That is the amount Yahoo's former chief operating officer Henrique de Castro will receive, although he only worked for Yahoo for a little over a year.
Yahoo CEO Marissa Mayer hired de Castro as her second-in-command in October 2012. Just 15 months later, she dumped him in January because ad sales, which he was in charge of, were still down for Yahoo.
According to an article in re/code, Mayer and de Castro had not been getting along for quite some time and it was pretty well known that he would soon be out of a job. In fact, he was often referred to as "dead man walking" in the months before his departure.
The amount of his severance package was revealed in a regulatory filing on Wednesday. The company's board has said most of the severance stemmed from the costs of luring de Castro from Google.
However, his severance package would not have been worth nearly as much if Yahoo's stock had not doubled during his time there.
In all, he received about $96 million in compensation for the time that he worked for Yahoo, according to the New York Times. That, by the way, is way more that what his boss made in the same amount of time.