Ousted Yahoo exec gets $58 million golden parachute

[Hum]

Former chief operating officer Henrique de Castro left Yahoo with a severance package worth $58 million, according to a regulatory document filed Wednesday with the SEC.

The golden parachute is among the most generous in history, and especially notable given than de Castro worked at Yahoo for only 15 months.

 De Castro was shown the door in January by CEO Marissa Mayer, apparently due to disappointing performance in improving Yahoo's advertising revenue.

Mayer and de Castro -- two former Google executives -- were under tremendous pressure to revive Yahoo's battered core business.

Much of the $58 million severance package's value is attributable to Yahoo's rising stock price while de Castro was with the company.

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[leesmithg]

Well since they got rid of parlour games, their advertising click throughs will drop and the visits will drop.

 

Their shares will drop.

[Hum]

I reckon he won't have to worry about jobs and retirement now. :laugh:

[+John Teacake MVC]

I mean seriously come on, Someone must look at this and think 58Mil for 15months ... 

[leesmithg]

I mean seriously come on, Someone must look at this and think 58Mil for 15months ... 

You have this all over the world.

 

They sign a contract and it will have this in it.

 

Yahoo say they want the best, it's Cod's Wallop, it's all about networking and having friends in high places.

 

Like the British parliament, most of the M.P's are millionaires and are high up in big business.

 

Think about how many backs Bliar scratched to now be worth ?200,000,000 when as a Prime minister He earned ?120,000 per year. 

 

My example, is a man that came into a government post as an advisor, he left after two weeks and got ?2,000,000.

 

Also  those on big salary's for the big players also sign an agreement that when they leave their post they get paid 4 years salary the equivalent to what they are earning.

 

Immoral is what it is.

[compl3x]

Totally reinforces the idea that once you reach a certain point in the business world it no longer matters whether or not you are competent. ???\(*???)/???

[leesmithg]

Totally reinforces the idea that once you reach a certain point in the business world it no longer matters whether or not you are competent. ???\(*???)/???

That is true, example, super head goes into school, it feels a little better, then when he realises it's never going to change, gets a good reference or three and leaves to move to another

 

school.

 

Same in business with managing directors, they come in with b.s. ideas created by a third party, when they feel the boat is about to sink they move on to another company.