Multimillion-dollar severance package for fired executive

Being fired after mere months in the job isn’t always a bad thing, especially if you walk away with a US$58million severance package like former Yahoo chief operating officer Henrique de Castro

After 15 months in the job, most workers would be entitled to just a few weeks worth of severance pay. However, as every HR leader knows, the executive world of talent is different.
 
 Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million, despite a tenure of just 15 month.
 
The company made the disclosure in a regulatory filing, and some commentators are already suggesting this reflects badly on CEO Marissa Mayer, who hired de Castro as her second-in-command in October 2012.
 
Mayer reportedly decided to fire de Castro in January, after he failed to turn around Yahoo's lagging ad sales growth.
 
A statement from the company's board said most of the severance stemmed from the costs of luring de Castro from his previous job at Google Inc.
 
 
 

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