With Ad Sales Still Falling, Yahoo COO Henrique De Castro Leaving - Confirmed

Posted: Jan 15 2014, 5:21pm CST | by , in News

 

With Ad Sales Still Falling, Yahoo COO Henrique De Castro Leaving - Confirmed
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Henrique De Castro, Yahoo's chief operating officer and the man responsible for reviving the Internet company’s falling sales, is leaving the company scarcely a year after CEO Marissa Mayer hired him from Google.

Kara Swisher at the tech news site Re/code reported the departure, which was confirmed in a brief SEC filing. Several reports have indicated that De Castro had increasingly was at odds with Mayer, also a Google alum. De Castro was nowhere to be found at the recent CES consumer electronics show, where Mayer herself gave a keynote and where many media and marketing people meet to do deals.

AdWeek in September reported that De Castro was probably on the way out. The same month, Yahoo hired former AOL exec Ned Brody to be senior vice president Americas, the U.S. sales chief. Re/code reported that De Castro also clashed with Brody and with marketing chief Kathy Savitt.

The departure may come as little surprise, given that Yahoo has seen ad revenues continue to fall despite a significant rise in traffic from Mayer’s revamping of several properties and services. Display ad revenues, which it once led industrywide, fell 7% in the third quarter. Last year, Facebook overtook Yahoo as the second-largest seller of online ads in the U.S. behind Google, according to eMarketer.

Not only is Yahoo lagging in the fast-growing automated advertising technology and systems known as “programmatic,” but it also has not persuaded more big marketers to return to the portal, once (long ago) the leader in display advertising. Despite some progress behind the scenes, some ad agencies have said that Yahoo, and De Castro in particular, have not been courting their business adequately.

De Castro still appears on Yahoo’s management page. But apparently not for long. He was making $39 million a year, apparently more than Mayer.

Before joining Yahoo, he was VP of Google’s Partner Business Solutions group. Before that, he ran Google’s media, mobile and platforms organization worldwide.

Source: Forbes

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