Business and Industry

Yahoo! Dismisses Chief Operating Officer

Over decline in ad revenue, first Marissa Mayer executive to get the axe

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Yahoo! Inc. retreated in morning trading after the largest U.S. Web portal  dismissed  Chief Operating Officer Henrique de Castro amid disappointment with his efforts to revive its long-declining advertising sales.

Yahoo shares dropped 1.6 percent to $40.43 at 9:34 a.m. in New York, set to erase this year's gains.