Yahoo has just hired another former Googler. But this one is a doozy.
Henrique De Castro, Google’s former president of Global Media, Mobile, and Platforms, is joining Yahoo as chief operating officer for a total compensation package valued at $56 million. He’ll have wide oversight of Yahoo’s business categories: sales, operations, media, and business development.
Above: Henrique De Castro
Image Credit: LinkedIn
“Henrique is an incredibly accomplished and rigorous business leader, and I’m personally excited to have him join Yahoo!’s strong leadership team,” Marissa Mayer former Googler herself and chief executive of Yahoo said in a statement. “His operational experience in internet advertising and his proven success in structuring and scaling global organizations make him the perfect fit for Yahoo! as we propel the business to its next phase of growth.”
De Castro’s just-previous role at Google was VP of Google’s worldwide Partner Business Solutions group, although his LinkedIn profile says that he is still “Google President Global Media, Mobile & Platforms.” Prior to that, he worked at Dell in sales and business development and McKinsey, the consulting company.
According to the announcement, he has more than 20 years in strategic and operational experience, including “structuring and scaling multi-billion-dollar global businesses.”
De Castro seems excited by the opportunity, saying that the site’s “high quality content, its renewed focus on outstanding user experience and its massive reach bring tremendous value to users, advertisers and partners.” He added that he “can’t wait to join Marissa and the team and get started.”
That is not shocking when you consider his compensation. According to Yahoo expert Kara Swisher at All Things D, De Castro is the “56 million dollar man.” He’ll be getting $36 million in stock options, plus $1 million to make up for Google options he’ll be forgoing, and $20 million in stock to replace his Google shares.
Yahoo has been searching for a new COO since August, and since the company is still down one CTO, perhaps Google better review the golden handcuffs on the rest of its senior staff.