Yahoo Poaches Google's Top Executive as COO For Luscious $60 Million


Bangalore: It seems Yahoo’s CEO Marissa Meyer is really missing the companionships at her early employer, as she poached Henrique de Castro, one of the top executives of Google, to help her tackle the challenges in her new job.

Henrique de Castro will be working as Chief Operating Officer of Yahoo from early next year. According to the reports, he will be getting nearly $60 million in stock options and cash bonus for joining the company. de Castro, who was serving as VP of partner business solutions at Google will now oversee Yahoo's sales, operations, media and business development. "His operational experience in Internet advertising and his proven success...make him the perfect fit," Mayer said in a statement.

This will be Marissa’s third and the biggest hire at Yahoo. The new COO is expected to join her top executive team along with the new CFO and CMO whom she hired after taking control of Yahoo. With this, she believes to tackle one of Yahoo’s biggest problem, advertising revenue.

Yahoo has generated a mere $2 billion in advertisement revenue so far this year compared to $21 billion generated by Google.

de Castro was a key player in Google’s advertising success. Before handling Google’s relationship with advertisers, he held responsibility for extending Google’s advertising capabilities into the mobile platform, which Marissa believes also the next target for Yahoo.

According to Reuters, with poaching top talents from Google, Marissa is running the risk of alienating her former employer. However Google said in a statement, "We're grateful to Henrique for all of his contributions at Google and wish him all the best in his new role at Yahoo."