Yahoo spends $58 million to fire its chief operating officer

Washington Post:

$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 Castro’s brief time at the company when Yahoo’s share prices rose, thanks to its 24 percent stake in Chinese Internet giant Alibaba.

That is some good timing.