Yahoo COO de Castro departs; no reason given
SAN FRANCISCO (Reuters) - Yahoo Inc chief operating officer Henrique de Castro, the high-profile executive Chief Executive Officer Marissa Mayer poached from Google Inc shortly after she took the helm, will be leaving on Thursday after about a year on the job.
Yahoo did not give a reason for his abrupt departure in a Wednesday filing. 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 October 15, 2012 employment letter, including equity awards, according to the filing.
Representatives for Yahoo did not respond to requests for additional comment.
Yahoo is one of the world's most-visited online properties, but revenue has declined in recent years amid competition from Google and Facebook Inc. Mayer has built a senior leadership team and is now in the midst of engineering a turnaround at the once dominant Web icon.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.