Yahoo's chief technology officer is resigning after nearly a decade on the job, creating a management void as the Internet icon tries to mine more profits from a recent upgrade to its system for delivering online ads, an Associated Press report said.
The Associated Press report said Farzad Nazem's plans to leave the company were disclosed in a US Securities and Exchange Commission filing and a posting on Yahoo's web site.
The resignation becomes effective June 8, just six months after Yahoo named Nazem head of the company's newly created technology group as part of a management shakeup, the Associated Press report said.
The report said he already had been Yahoo's chief technology officer since April 1998, two years after he joined the company as senior vice president of product development.
While Yahoo searches for Nazem's replacement, company co-founder Jerry Yang will oversee the technology group as interim 'executive sponsor,' the report said.
Fellow co-founder David Filo also will continue his focus on technology, the company said in statement.
In the posting on Yahoo's web site, Nazem, 45, said he simply wants to retire. 'After spending the last 26 years in this fast-paced technology industry, I've finally decided it's time to slow down,' wrote Nazem, who also worked at business software maker Oracle before joining Yahoo.