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Yahoo said Monday it has hired Henrique de Castro away from Google, where he was vp worldwide Partner Business Solutions group, as its new COO, reporting to CEO Marissa Mayer, also a Google alumna.
According to a regulatory filing, de Castro could make nearly $60 million by jumping to Yahoo from Google, where he earned his reputation as a top sales executive over the six years he was employed there.
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His new compensation package includes a $600,000 base annual salary and the opportunity to double that with bonuses, plus $1 million cash for leaving money behind at Google and another $20 million in Yahoo stock to replace Google shares he’ll not get, plus a possible $36 million in stock grants.
“De Castro will join the company on or before Jan. 22, 2013, or as soon as he has satisfied his obligations to his current employer,” Yahoo said.
Prior to Google, de Castro spent two years at Dell, and he was a consultant for McKinsey & Co.
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“Henrique is an incredibly accomplished and rigorous business leader, and I’m personally excited to have him join Yahoo’s strong leadership team,” Mayer said. “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.”
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