Yahoo’s Mayer Taps Google Exec for COO

by Nate Wooley | October 16, 2012 11:55 am

Yahoo’s Mayer Taps Google Exec for COO

As Marissa Mayer assembles her team at Yahoo (NASDAQ:YHOO[1]), the new CEO isn’t necessarily straying far. She has just hired Henrique de Castro as new chief operating officer, reports The Wall Street Journal[2]. Formerly Google‘s (NASDAQ:GOOG[3]) vice president of partner business solutions, de Castro had been rumored to be moving with Mayer for some time.

As COO of Yahoo, de Castro will oversee the search engine’s sales, marketing and business development efforts. The firm is attempting to reinvent itself in the face of competition from newer rivals such as Google and Facebook (NASDAQ:FB[4]).

De Casto won’t suffer for moving. His total compensation includes an annual salary of $600,000 and almost $60 million in restricted stock and stock options. He’ll also get a $1 million cash bonus to make up for lost compensation. He’s expected to be in place in January.

More news of search engines:

Endnotes:
  1. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO
  2. reports The Wall Street Journal: http://online.wsj.com/article/SB10000872396390444354004578059053762907948.html
  3. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
  4. FB: http://studio-5.financialcontent.com/investplace/quote?Symbol=FB
  5. Things Aren’t Looking Good for Yahoo Search: http://investorplace.com/2012/10/things-arent-looking-good-for-yahoo-search/
  6. Has Google Lost Its Mojo?: http://investorplace.com/2012/10/has-google-lost-its-mojo/
  7. Chinese Search Engine Workers Arrested Over Bribes: http://investorplace.com/2012/08/chinese-search-engine-workers-arrested-over-bribes/

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