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.