Google Still On CFO Hunt
Roughly three months ago, we learned that Google’s chief financial officer, George Reyes, intended to retire. It looks like Reyes will be working through the holidays, however, as the search giant still hasn’t found a replacement for him.
Google’s stock is currently sitting at $689.96. Its market cap is $215.85 billion. And these are the sorts of things that one might expect to draw applicants like crazy. But there are some good reasons as to why the CFO position is still available.
After all, CFOs probably aren’t the sort of people who just want to roll around in piles of money – they want to ration and control it. At Google, where a few million dollars seems to get spent on "this or that" once a week, control isn’t exactly a part of corporate culture.
Also, as Wendy Tanaka pointed out, "Clearly the financial incentives for joining Google in 2008 with its stock price in the stratosphere are less compelling than during its pre-IPO period when Reyes joined."
We’ll see what Google can turn up, then. Since "[t]he company hoped it could find a new CFO in a few months," according to Tanaka, this could soon become a source of corporate embarrassment; it was bad enough when, in July, YouTube’s CFO ran off to join Facebook.