Former Yahoo COO receives $58 million severance package following termination

Henrique de Castro was with Yahoo for 15 months and received more than $100 million from the company

During a time period when activist shareholders are becoming more proactive in seeking change — and companies are responding in kind — limiting executive pay models is becoming a rallying cry for many dissatisfied shareholders. However, an April 17 filing by Yahoo Inc. proves that executive compensation may not be done climbing quite yet.

Yahoo CEO Marissa Mayer announced in an internal email during the week, “I made the difficult decision that our COO, Henrique de Castro, should leave the company.” However, in the following regulatory filing, the company announced that de Castro would be given $58 million as a severance package from the company, one of the largest such packages in U.S. history.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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