Home Online Advertising Yahoo Dismisses COO Henrique De Castro

Yahoo Dismisses COO Henrique De Castro

SHARE:

YahooYahoo Chief Operating Officer Henrique De Castro has been canned, according to a regulatory filing. Re/code’s Kara Swisher reported on the story first. De Castro’s departure date is Jan. 16.

A former Googler, De Castro is credited by industry insiders with helping to build Google’s display ad business and making YouTube profitable. De Castro joined Yahoo in 2012 soon after Marissa Mayer became Yahoo’s new CEO. He was scheduled to receive $60 million in salary, bonus and stock over a four-year period.

De Castro struggled to bring to Yahoo the success he had at Google, however. In its latest earnings report, Yahoo beat earnings estimates, but revenue was nearly flat and its display ad revenue was down. Rumors that De Castro was on his way out crescendoed when executives and the press noted his absence at recent events, such as the Consumer Electronics Show (CES).

A Yahoo spokesperson provided this statement: “As is stated in the 8-K that we filed today, Henrique de Castro will be leaving Yahoo, effective Thursday, January 16, 2014. We aren’t commenting beyond the 8-K.”

Yahoo last week announced a major overhaul of its ad products. It retired several parts of its ad system, including real-time bidding platform Right Media and data-management software Genome, and added a suite of new capabilities dubbed Yahoo Advertising.

Must Read

Comic: Gamechanger (Google lost the DOJ's search antitrust case)

DOJ v. Google: How Judge Brinkema Seems To Be Thinking After Week One

Where the DOJ v. Google ad tech antitrust trial stands after one week’s worth of remedies arguments.

Swish, A Company That's Bringing Programmatic to Product Sampling, Announces Seed Funding

Swish, a startup that partners with retailers to provide product full-size CPG samples to people doing their grocery shopping online, announces $2.3 million in seed funding.

DOJ v. Google: During Opening Arguments, The DOJ And Google Battle Over An AdX Divestiture

Court is back in session. And the fate of  the open internet is in the balance.

Privacy! Commerce! Connected TV! Read all about it. Subscribe to AdExchanger Newsletters
Chris Mufarrige, director, Bureau of Consumer Protection, FTC

FTC Consumer Protection Chief: No Easy Answers On Privacy, ‘Only Trade-Offs’

Privacy isn’t black-and-white, says the FTC’s Chris Mufarrige, promising evidence-driven consumer protection cases under the Trump administration.

How Encryption Keys Could Resolve The TID Furor

Rather than sharing universal TIDs that any DSP or curator can access, Raptive says publishers should instead share encrypted TIDs with an encryption key provided only to trusted demand-side partners.

Clear Channel Brings Mid-Flight Measurement To Its OOH Network

Clear Channel will provide advertisers weekly, mid-flight reports on outcomes driven by its inventory in order to bring OOH measurement closer to the speed of digital.