Yahoo exec to leave in shock announcement

City A.M. Reporter
YAHOO’S chief operating officer Henrique de Castro has announced that he will leave the company today, after about a year in the job.

Yahoo did not give a reason for the abrupt departure of the high-profile executive that chief executive officer Marissa Mayer poached from Google shortly after she took the helm. At the time of his hiring, Mayer was building a management team to try and revive flagging sales and traffic, and cited de Castro’s internet advertising expertise as a key asset. De Castro will get severance benefits as laid out in his 2012 employment letter, including equity awards, according to the company.

Yahoo is one of the world’s most-visited online properties, but revenue has declined in recent years amid competition from Google and Facebook.

Mayer has built a senior leadership team and is now in the midst of engineering a turnaround at the once dominant web icon.