Small Business News

Yahoo COO Henrique De Castro Fired

Yahoo COO Henrique De Castro is leaving the company having been fired by CEO Marissa Mayer.

Yahoo filed a form 8-K (via Re/code) on Wednesday, which says that he would be leaving the company as of Thursday, and that he is to receive severance benefits provided for in his Employment Office Letter from 2012 and Severance Agreement from last year as well as equity awards.

Kara Swisher, who is famous for her leaked Yahoo corporate memos, shares one from Mayer, which says she made the decision that de Castro should leave the company, noting that she appreciates his contributions and wishes him the best.

Things might actually not be so bad for de Castro. USA Today reports that he may be leaving with about $30 million for less than two years of work.

In the memo, Mayer says Dawn Airey, John Devine, Ned Brody, and Rose Tsou will report directly to her, and Kathy Savitt wil lead media and editorial functions. Several functions, she says, “align well” with product initiatives in Mike Kern’s Homepages and Verticals group, and will report there.

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