Jim Jannard, the founder of Oakley and Red Digital Cinema, has announced his retirement.

In a post last night at h4vuser.net, the online community for the Hydrogen cell phone (and holographic capture device) released late last year, Jannard noted that he recently turned 70 and is having unspecified health issues. With his retirement, the Hydrogen project will be shuttered, though Jannard promised that Hydrogen One devices will continue to be supported.

Jim Jannard's retirement post

Jim Jannard’s retirement post

“Just now turning 70 and having a few health issues, it is now time for me to retire,” Jannard wrote. “I will be shutting down the Hydrogen project, ending a career that has included Oakley, Red Digital Cinema and Hydrogen. I am very proud to have worked with many great people over the years who have signed on to the vision.”

Yesterday’s posting was Jannard’s first appearance on the forum since July, when he was still alluding to a forthcoming Hydrogen Two — and touting Red’s hotly anticipated Komodo camera, which he said would be priced at less than $5,000 for Hydrogen owners only.

The response evoked an outpouring of overwhelmingly positive sentiment from community members, who wished Jannard good health and celebrated his accomplishments in the digital cinema industry.

Red Digital Cinema is now being run by President Jarred Land, Executive VP Tommy Rios and President of Marketing and Creative Jamin Jannard.

“For Red camera owners/users and fans, nothing changes over here,” wrote Land in a subsequent post at reduser.net. “Jim will continue to smack me on the side of the head when I need it, and his ideas and direction will still flow into this company for years to come.”