Millennium Post

Google’s Henrique de Castro appointed as Yahoo! COO

Yahoo! has appointed Henrique de Castro of Google as its new chief operating officer [COO], with a compensation package of up to USD 58 million. De Castro will get an annual base salary of USD 50,000 per month amounting to USD 600,000 annually. Moreover, beginning 2013, he will also be eligible for an annual bonus of up to 90 per cent of his annual base salary, according to a filing with the US Securities and Exchange Commission. De Castro would be the second big appointment that Yahoo! has made from its rival Google. Earlier this year, Yahoo! had appointed former Google executive Marissa Mayer as its chief executive. On top of it he would get a one-time retention equity award comprising USD 18 million in restricted stock units and USD 18 million in performance-based stock options and and restricted stock with a target value of USD 20 million, the filing added. In addition, he will receive a cash bonus of USD 1 million within seven business days of joining date.
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