{"id":62314,"date":"2012-10-16T07:40:42","date_gmt":"2012-10-16T05:40:42","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=62314"},"modified":"2012-10-17T14:37:16","modified_gmt":"2012-10-17T12:37:16","slug":"yahoo-grabs-google-exec-for-coo","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/business\/62314-yahoo-grabs-google-exec-for-coo.html","title":{"rendered":"Yahoo grabs Google exec for COO"},"content":{"rendered":"

Yahoo Inc<\/a> hired Henrique de Castro<\/a>, a Google Inc<\/a> executive, to be its chief operating officer, the latest move by Yahoo Chief Executive Marissa Mayer<\/a> to build a new management team at the struggling Web company.<\/p>\n

De Castro, who will oversee Yahoo’s global sales, operations, media and business development, will be eligible for a whopping $58 million total compensation package, according to an SEC filing by Yahoo on Monday.<\/p>\n

Yahoo said that de Castro would receive $600,000 in annual base salary, as well as a $36 million in restricted stock units and stock options as a one-time retention award, among other parts of his compensation package.<\/p>\n

De Castro will start at Yahoo by January 22, the company said. If de Castro, who the technology blog AllThingsD.com said was born in Portugal, has not obtained a work visa prior to his official start date he will initially work in London for a Yahoo subsidiary, the company said.<\/p>\n

Mayer, a former Google executive who joined Yahoo as CEO in July, in a statement cited de Castro’s experience in Internet advertising and his work “structuring and scaling global organizations.”<\/p>\n

The 37-year-old Mayer, who gave birth to her first child on September 30, also announced the hiring of de Castro with a Twitter message in which she noted that Monday was her first full day back in the office.<\/p>\n

Yahoo is one of the world’s most-visited online properties, but revenue has declined in recent years amid competition from Google and Facebook Inc<\/a>. Yahoo has also been beset by internal turmoil that has resulted in a revolving door of CEOs. The surprise appointment of Mayer in July made her Yahoo’s third chief in about 12 months.<\/p>\n

Mayer has yet to reveal her plan for revitalizing Yahoo, but has made a few key hires, including new finance chief Ken Goldman<\/a> and marketing head Kathy Savitt<\/a>, a former Amazon.com<\/a> executive.<\/p>\n

De Castro is currently vice president of Google’s worldwide partners business solutions group, overseeing advertising services for the company’s publisher and commerce partners.<\/p>\n

Shares of Yahoo, which reports third-quarter results on October 22, were up 7 cents at $15.75 in after-hours trading on Monday. The shares fell 1.3 percent to $15.68 during the regular session.<\/p>\n

Related articles<\/h3>\n

Yahoo CEO\u2019s revival plans<\/a><\/strong><\/p>\n

Yahoo CEO faces tough choices<\/strong><\/a><\/p>\n

Yahoo to pay Mayer over R573 million<\/strong><\/a><\/p>\n

Yahoo appoints ex-Google executive as CEO<\/strong><\/a><\/p>\n

Yahoo breach threatens Google, AOL, Microsoft<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yahoo CEO Marissa Mayer has tapped former Google colleague as the new chief operating officer for the struggling company <\/p>\n","protected":false},"author":340871,"featured_media":54797,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[36,167,16178,2744],"class_list":["post-62314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-active","tag-google","tag-henrique-de-castro","tag-yahoo"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/62314"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/340871"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=62314"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/62314\/revisions"}],"predecessor-version":[{"id":62470,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/62314\/revisions\/62470"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/54797"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=62314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=62314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=62314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}