Google CFO to retire

Google CFO to retire

Summary: Google said Tuesday that CFO George Reyes will retire by the end of the year.Reyes will stick around to help Google find a new CFO and "assure an orderly transition.

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Google said Tuesday that CFO George Reyes will retire by the end of the year.

Reyes will stick around to help Google find a new CFO and "assure an orderly transition."

In a statement, CEO Eric Schmidt credited Reyes with navigating Google's IPO, Sarbanes-Oxley and "challenges of scaling a global finance organization."

Co-founder Larry Page credited Reyes for "keeping us financially disciplined while protecting the best of our entrepreneurial culture."

Reyes' retirement fund should be secure. As of Dec. 31 he had 51,750 options with a strike price of $5. Based on Reyes' vesting schedule about 15 percent of those options are vested today working out to about $3.9 million. Google closed Tuesday at $506.40. His total 2006 compensation was $1.7 million. It's not clear what the separation package is for Reyes.

Topic: Google

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