Yahoo poaches Google executive
Wednesday 17 October 2012
Yahoo's new chief executive Marissa Mayer has raided her old employer and rival Google to find a new chief operating officer.
Henrique de Castro has been tempted by a package worth $58m (£36m) over four years. He will get a basic salary of $600,000, with huge potential bonuses.
Ms Mayer joined beleaguered Yahoo in July in an attempt to turn around the former internet darling, which has fallen far behind Google and newer rivals such as Facebook.
She briefly took time off to have a baby at the end of September but returned to work yesterday, when she announced Mr de Castro's appointment on Twitter.
Her basic salary is $1m a year, but shares and share options could make it worth $70m.
Yahoo, Facebook, AOL and others have been raiding Google for executives as they battle with the internet search giant for users.
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