COO Compensation — Yahoo (YHOO)
This one doesn’t pertain to CEO compensation but rather COO pay. Henrique de Castro was the second in command at Yahoo (YHOO) for all of 15 months. He botched the job so colossally that Marisa Mayer had to cut him loose — but not before paying him $109 million in severance.
AlterNet contributor RJ Eskow calls de Castro’s haul one of the best examples of “wildly overpaid rich folks.” Yahoo shareholders can’t be happy about this hiring mistake.
You can look at this in one of two ways. Either Mayer made the worst personnel decision in the history of American public companies, or de Castro did one heck of a selling job on both the CEO and the board. Whichever theory you prefer, it doesn’t paint a pretty picture for Yahoo. If not for Alibaba, this company would be toast. Marissa Mayer could be moving on once Yahoo unloads the rest of its holdings.
And given the executive compensation debacle with de Castro, that’s probably a wise decision.