Yahoo CEO brings in Castro for revolution

Yahoo chief executive Marissa Mayer has turned to her old chum Castro to help sort out her search engine revolution. Henrique de Castro worked with Mayer at Google and is to become the search engine’s chief operating officer.

He will look after Yahoo’s global sales, operations, media and business development.

He is not just doing it for cigars either. De Castro will be eligible for a $58 million total compensation package.

According to a Yahoo statement, Castro will receive $600,000 in annual base salary, as well as a $36 million in restricted stock units and stock options as a one-time retention award, among other parts of his compensation package. Castro will start work at Yahoo by 22 January, the company said.

De Castro is currently vice president of Google’s worldwide partners business solutions group, overseeing advertising services for the company’s publisher and commerce partners. He was born in Portugal and is currently applying for a work visa before he can start. In the meantime he will be working in London for a Yahoo subsidiary.

Mayer said that de Castro’s was jolly good at internet advertising as well as work in “structuring and scaling global organisations”.

Mayer has not told the world her cunning plan for Yahoo yet. She has made a few key hires, including new finance chief Ken Goldman and marketing head Kathy Savitt, a former executive.