Google Inc. (NASDAQ: GOOG) has made a very small disclosure after the close, The internet search giant disclosed in an SEC filing that its Chief Financial Officer was announcing plans to retire. While it is always a worry that a CFO is leaving, this is not exactly taking place overnight. This was also far from any stealth firing on the surface.

Google’s SEC filing said:

On March 4, 2015, Google Inc.’s Chief Financial Officer (CFO), Patrick Pichette, informed the company of his intent to retire. The effective date of his retirement has not yet been determined. Patrick indicated that he intends to assist in the search for a new CFO and ensure an orderly transition, which the company expects will occur within the next six months.

The one thing that does stand out here is that the announcement is nearly a week after the CFO disclosed his intent. Still, a transition plan of six months is quite a long time and this will likely calm any serious concerns.

Investors hate seeing CFO resignations. Retirements are also viewed frequently the same, depending upon the retirement reasoning. And as far as a retirement, Yahoo! Finance’s data represents that Patrick Pichette is only 52 years old.

Does a high-powered CFO really retire at the age of 52? Probably not. Do they go on to work endless hours around the clock at another public company? Well, also probably not. By assisting in a search for a successor and by having a window that goes out for six months, it seems unlikely that investors will hit their panic buttons.

It is not like Google is losing Larry Page or Sergey Brin — nor like they are losing Eric Schmidt to an even lighter role.

Google shares were down 2.4% at $555.01 in regular trading on Tuesday, but that drop was with a weak broader market. Google shares were little changed in the after-hours after the report and the stock’s 52-week range is $487.56 to $604.83.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.