Yahoo! Loses Its CTO, Unfortunately Not Its CEO

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By Douglas A. McIntyre Updated Published
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Yahoo!’s (YHOO-NASDAQ) Head of Technology and Chief Technology Officer, Farzad Nazem, is leaving the company effective June 8, 2007.  The filing says he will "continue to provide services including transition services between the Agreement Date and the Separation Date."  In short, he’s out of there and they can catch him on his cell phone (assuming he’ll even grab the phone).  He will still have shares locked up over the coming thirty months as certain options vest at intervals between now and then.

No reason is given for his resignation.  Shares are down 1% at $28.09 so far in after-hours trading.  All we want to know is why he couldn’t take Mr. Semel with him.  We have had Semel on a list of CEO’s That Need To Go since December 15, 2006, so today’s news is "the right move, but from teh wrong officer."

Jon C. Ogg
May 30, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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