Internet major Yahoo Inc's chief technology officer has tendered his resignation, the company revealed in a US Securities and Exchange Commission filing on May 30. Farzad Nazem, 45, had been the company's technology head since 1998.
The resignation, effective from June 8, comes just six months after Nazem was chosen to lead the company's newly formed technology group in a major management restructuring effort.
Farzad Nazem who earlier worked with Oracle, joined Yahoo in 1996 as senior vice president and took over as the chief technology officer of the company in 1998. In a statement posted on Yahoo's website, Nazem said, "after spending the last 26 years in this fast-paced technology industry, I've finally decided it's time to slow down."
Nazem's resignation comes at a crucial juncture for Yahoo, which suffered an 11 per cent loss in its first quarter and is making desperate efforts to rejuvenate its revenue model.
The technology group will be headed by Yahoo co-founder Jerry Yang, while the company searches for Nazem's replacement.