Nazem Resigns as Yahoo CTO

After just a six-month stint as the head of the company's technology arm, Yahoo CTO Farzad Nazem will leave the company June 8. The announcement was revealed in a Wednesday filing with the Securities and Exchange Commission.

Yahoo co-founder Jerry Yang will serve as interim CTO while the company looks for a replacement, the filing said.

"After spending the last 26 years in this fast-paced industry, I've finally decided to slow down," Nazem said in a posting to the company web log.

Nazem was named the head of the Technology Group when the company undertook a sweeping reorganization in December of last year. He had been with the company for over 11 years, Yahoo said.

Yahoo's management has undergone a lot of change within the past six months, and the uncertainty at the top has hung heavy on its stock price. Since December, its stock price has essentially stayed constant.

In that time, both the head of its Media Group Lloyd Braun, and chief operating officer Dan Rosensweig left the company. Google continued to distance itself from Yahoo in both search and advertising market share, and the company has watched its profit margins shrink.