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A $58,000,000 severance


               
2014 Apr 17, 3:16am   4,558 views  18 comments

by JH   follow (0)  

http://money.cnn.com/2014/04/17/technology/de-castro-yahoo-pay/index.html?hpt=hp_t2

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.

I'm sure his brilliant intelligence, special ability to work with people, knack for advertising, and commitment to the company earned him every penny.

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17   Rin   2014 Apr 23, 10:47am  

bob2356 says

Plenty of huge compensation packages happened pre bailouts.

Yeah, but typical loser CEOs were in the $10-15M exit strategy category back in yesteryear. Sure, they made out well, despite failing but at least the damage was contained.

Getting $58M in 1.5 years, as a dud, is becoming the new trend. It's more or less getting money to help liquidate a company but without a private equity/corporate raider firm in the middle.

18   corntrollio   2014 Apr 24, 4:10am  

Rin says

Yeah, but typical loser CEOs were in the $10-15M exit strategy category back in yesteryear. Sure, they made out well, despite failing but at least the damage was contained.

Well, this guy's was $17M until the Yahoo stock price went way up.

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