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Yahoo!'s Big Ad Exec Is Out

NEW YORK (TheStreet) Yahoo! (YHOO - Get Report) Chief Operating Officer Henrique de Castro is out.

According to a release from Yahoo!, de Castro "will be leaving the Company effective January 16, 2014. Mr. de Castro will receive the severance benefits provided for in his Employment Offer Letter, dated October 15, 2012, Severance Agreement, dated February 28, 2013, and equity award agreements."

Mr. de Castro was one of CEO Marissa Mayer's first major hires since coming on board from Google (GOOG), but there have been reports in recent months that the relationship between the two had soured, with Mr. de Castro being unable to turn around Yahoo!'s core advertising business.

--Written by Chris Ciaccia in New York

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