NEW YORK (TheStreet) -- Henrique de Castro, the chief operating officer at Yahoo! (YHOO), is out, the company said late Wednesday. TheStreet's Brittany Umar said de Castro was the first big-name hire CEO Marissa Mayer brought in to Yahoo!, from Google (GOOG), in late 2012
He was considered an important element to the core business of Yahoo!, where he was responsible for managing the company's sales, operations, media and business developments. This made his abrupt departure somewhat confounding to the financial and technology world, Umar said.
No reason was given for the firing but it was effective Thursday, according to a Securities and Exchange Commission filing, Umar said.
Display ad revenue fell in the third quarter, she added, leading some to wonder whether his performance was not at the level Mayer had expected.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts