Yahoo's Marissa Mayer fires COO

Yahoo's No. 2 executive, Henrique de Castro, has been fired by his boss, Marissa Mayer, a little more than a year after she wooed him away from Google to help her turn around the struggling Internet company. Yahoo, which has lost ground in recent years to competitors like Google and Facebook, announced de Castro's departure in a terse, two-sentence document filed with the Securities and Exchange Commission after the stock market closed Wednesday.

Read the Economic Times news report here.