Google's CFO George Reyes steps down
Google Chief Financial Officer George Reyes will leave by year-end, Google said today, after the executive helped manage the huge search engine through five years of spectacular growth.
The company didn’t provide an explanation. It’s possible he wanted to step down, after years of pressure and accumulated wealth. However, there could be other reasons. The company disappointed investors last quarter, when hiring and research costs caused the company to miss profit expectations. Also, it could be joined with personal reasons: Three weeks ago, a federal jury in San Francisco convicted Reyes’ nephew, Gregory Reyes, of duping investors by concealing the manipulation of stock options, a move that is expected to give him jail time.
Reyes has been a steady hand for most of this time at Google, except for a brief period last year when he made a public statement that Google wouldn’t be able to maintain its 86 percent sales growth, words that sent Google shares reeling by 7.1 percent.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
