Investing
Yahoo! Loses Its CTO, Unfortunately Not Its CEO
Published:
Last Updated:
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.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
