Marissa Mayer Wasn’t Crazy Enough To Give Former COO A $64 Million Severance Package For 15 Months of Work

Author:
Updated:
Original:

It was only $58 million, and even that was because she’s such a good, shareholder-value-creating CEO. So get off her chaise longue-lying back.

$58 million for 15 months of work.

That’s what Yahoo’s Chief Operating Officer Henrique De Castro got in severance pay when he was sent packing on Jan. 16, according to a Securities and Exchange Commission filing made public on Wednesday….

De Castro’s severance package, which included $1 million in cash plus equity, was valued at $17 million on Oct. 15, 2012, when he signed his offer letter.

That figure more than tripled during De Castro’s brief time at the company when Yahoo’s share prices rose, thanks to its 24 percent stake in Chinese Internet giant Alibaba.

Yahoo spends $58 million to fire its chief operating officer [WaPo]

Related

MarissaMayerTiara

Marissa Mayer Getting $23 Million For Running Yahoo Into The Ground

But does her golden parachute include an exciting new gig at Verizon?

Mayer.Dorsey.Pirates

Jack Dorsey Is The New Marissa Mayer

The Brian Moynihan of Tech role is suddenly available, but who else could it be?

MarissaKeyserSOze

Marissa Mayer Is The Keyser Söze Of Business

The greatest trick Marissa ever pulled was convincing the world she didn't know what she was doing.