October 15, 2012 / 11:39 PM / in 5 years

Yahoo's Mayer taps former Google colleague for COO

SAN FRANCISCO (Reuters) - Yahoo Inc hired Henrique de Castro, a Google Inc executive, to be its chief operating officer, the latest move by Yahoo Chief Executive Marissa Mayer to build a new management team at the struggling Web company.

De Castro, who will join Yahoo by January 22, will oversee global sales, operations, media and business development, Yahoo said on Monday.

Mayer, a former Google executive who joined Yahoo as CEO in July, in a statement cited de Castro’s experience in Internet advertising and his work “structuring and scaling global organizations.”

Yahoo is one of the world’s most-visited online properties, but revenue has declined in recent years amid competition from Google and Facebook Inc. Yahoo has also been beset by internal turmoil that has resulted in a revolving door of CEOs. The surprise appointment of Mayer in July made her Yahoo’s third chief in about 12 months.

Mayer has yet to reveal her plan for revitalizing Yahoo, but has made a few key hires, including new finance chief Ken Goldman and marketing head Kathy Savitt, a former Amazon.com executive.

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.

Shares of Yahoo, which reports third-quarter results on October 22, were up 7 cents at $15.75 in after-hours trading on Monday. The shares fell 1.3 percent to $15.68 during the regular session.

Reporting by Alexei Oreskovic; editing by Matthew Lewis

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