Yahoo CEO Marissa Mayer is continuing her efforts to rebuild the company's management team by recruiting ex-Google colleague Henrique de Castro as chief operating officer (COO).
Brought in to oversee global sales, operations, media and business development, De Castro will earn a $600,000 (£372,700) base salary, as well as $36m (£22.4m) in stock options.
Mayer made the announcement via Twitter on her return to work after maternity leave, saying: "My first full day back in the office, and I'm excited to kick it off by announcing my new COO, Henrique de Castro."
In a statement, Mayer added: "Henrique is an incredibly accomplished and rigorous business leader, and I'm excited to have him join Yahoo's strong leadership team.
"His operational experience in internet advertising and 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."
De Castro said: "This is a pivotal point in Yahoo's history, and I believe strongly in the opportunity ahead. I can't wait to join Marissa and the team and get started."
De Castro may have to wait a little longer than he'd like as it is widely reported that he does not yet have a US work visa.
In 2008, Microsoft attempted to acquire Yahoo for a reported $44.6bn (£27.7bn), but three years later, when a second bid was reported, this figure had slumped to $18bn (£11.2bn).
Longtime Google executive Mayer replaced Yahoo CEO Scott Thompson in July 2012, after the former's resignation in May under a cloud of allegations that he had included a fake computer science degree qualification on his CV.