Yahoo Inc.’s Chief Technology Officer is coming into retirement. At 45 years of age, Farzad Nazem decided it is finally time to slow down after being in the fast-paced industry for 26 years. Yahoo revealed his intention resign in a transaction they made with the Securities and Exchange Commission. Nazem’s retirement will be officially effective on June 8. He’s been mulling over his retirement but he waited until things have normalized at Yahoo after the recent reorganization that transpired. He also waited until the company’s new search-advertising system has been launched. This system is the Panama that is aimed in helping yahoo reclaim its lost profit in the first quarter. Yahoo experienced an 11% plunge in sales in the first quarter, losing to its rival Google. So the company really has high expectation from its new search-advertising system Panama.

So for the meantime that Yahoo is looking for Nazem’s replacement, Yahoo’s co-founder Jerry Yang will be overseeing things in the group on an interim basis. Before joining Yahoo, Farzad Nazem worked with Oracle Group. 1998 until the present time constitutes almost a decade of mutual relationship for Nazem and Yahoo. And in his retirement, Nazem will be a wealthy man.