Yahoo's chief executive Marissa Mayer has poached Henrique de Castro from Google to be the firm's chief operating officer.
Mayer (pictured), who joined Yahoo from Google herself earlier this year, is in the process of building a new management team to turn around the company's fortunes.
De Castro will oversee Yahoo's global sales, operations, media and business development, with reports estimating his package to be worth about $58m (£36m), consisting of restricted stock and stock options as an incentive to remain with the company for the next four years.
In a statement on the Yahoo corporate website, the firm said: "Henrique is an inspiring and dynamic leader with more than 20 years in strategy and operations management, including structuring and scaling multibillion-dollar global businesses."
Mayer added: "Henrique is an incredibly accomplished and rigorous business leader, and I am personally excited to have him join Yahoo's strong leadership team.
"His proven success in structuring and scaling global organisations make him the perfect fit for Yahoo as we propel the business to its next phase of growth."
Yahoo was the target of a takeover attempt by Microsoft in 2008, but the deal fell through because the board felt the software giant's offer "undervalued" its brand.
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