Farzad Nazem leaves senior position at Yahoo!

Yahoo! Inc. has revealed that their Chief Technology Officer Farzad Nazem has resigned from his position in the company to spend more time with his family.

With this, two of the top executive posts at the company now stand empty waiting for suitable replacements. Nazem would leave the company on June 8 and his work would be handled by Yahoo’s Co-founder Jerry Yang for the time being.

Market analysts say that this highlights the struggles at Yahoo where Chief Executive Officer Terry Semel is failing to retain talented people to keep their challenge online against the primary rivals Google and Yahoo.

Gene Munster, an analyst at Piper Jaffray & Co. added: “It’s probably another chapter in Yahoo’s brain drain story. When you don’t have stability at the top it’s very difficult to have stability through the ranks.”

Nazem has been working at Yahoo since 1996 and became chief technology officer two years later. Before joining Yahoo, he worked as a vice president at Oracle Corp.

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