SiliconBeat

Along with its second quarter earnings back in July, Informatica also released news that Girish Pancha, its executive vice president and general manager of its data integration operations, had “announced his plan to retire by the end of 2008.” That no longer is the case.

On Tuesday, Informatica tacked on an “update” about Pancha’s previously announced resignation to its announcement of a new board member on Tuesday. Pancha “will no longer be retiring from his position as of the end of 2008.”

No mention was made of whether Pancha, 43, still plans to retire in the near future or not. (That’s him in the photo.) He’s worked with Informatica since 1996, except for a stint in 1998 when he left to co-found Zimba, a developer of mobile applications providing real-time access to corporate data that was acquired by Informatica in August 2000 for $25 million worth of its own stock.

We can only surmise about Pancha’s change of plans. Perhaps the recession has given him a change of heart.

Shares of Informatica, which hit a 52 week high above $19 a share last January and were trading around $16 when his retirement was announced have lost 30 percent so far this year, closing Tuesday at $12.60. The lower price leaves about a quarter of his options underwater.

Pancha, who doesn’t hold any Informatica shares, has netted about $339,000 exercising options and immediately selling them since setting up a trading plan last year.