Yahoo Gives World $100 Million Lesson in Efficiency of Private Sector
The next time somebody blah blah blahs about how much more efficient and money-conscious and innovative the private sector is, forward them this doozy:
In 2012, Yahoo’s board had such high hopes for Henrique de Castro that it paid him more than his boss, Marissa Mayer. Little more than a year later, he is gone, fired from his job as Ms. Mayer’s No. 2 after a disappointing performance.
All told, Mr. de Castro will walk away with at least $88 million and as much as $109 million for his 15 months of work.
[snip] Mr. de Castro, who was hired away from Google, was hardly a tech superstar. He had a spotty track record at the search giant. And less than a year before he left, he was demoted from managing media and platforms to an amorphous role working on “special projects” on a team of one.
Keep in mind, this all occurred after Scott Thompson got resigned from Yahoo for faking his resume.
Note, also, that de Castro made more than his female boss. A nice touch.