Fifteen days after Yahoo! finally filled a hole in its executive suite with the hiring of Blake Jorgensen as chief financial officer, another glaring one opened up yesterday with the surprise disclosure that chief technology officer Farzad Nazem was resigning.

Nazem’s departure, announced in a regulatory filing yesterday, means that Yahoo! now has vacancies atop both its technology and audience divisions, arguably two of the most important areas as advertising dollars and content migrate online.

While Yahoo! said Nazem’s departure, effective June 8, was prearranged and mutually agreed upon, sources said it pointed to the company’s desire to make “operational fixes” in the wake of the underperformance of its new search-advertising platform “Project Panama,” which Nazem played a major role in creating.

“Engineering [i.e. technology development] has been Yahoo!’s weakness,” said one source. “Google’s engineering teams have just outperformed Yahoo!’s on every measure, which ultimately has an effect on the product and revenue schemes.”

Nazem’s exit will certainly fuel speculation that Microsoft and other suitors are eager to acquire Yahoo! should it come on the block.