This afternoon Google issued a press release which seems to say very little, on balance, save telegraphing the fact that Google felt its CFO was speaking a bit too loosely yesterday. This is not the first time Google has had to clarify its CFO’s statements. Remember Reyes on click fraud?
Since that statement, Google has made a point of saying that click fraud is really no big deal.
And now, after Reyes sounds the alarm about growth, Google issues this:
We would like to clarify and provide further information on these statements. As we have stated before, monetization improvements will continue to be a key factor in driving future revenue growth. We still see significant opportunities to improve monetization and intend to continue to focus our efforts in this area.
Moreover, as we have stated in our SEC filings, our revenue growth rate has generally declined over time and we expect that it will continue to do so…
Er, is this equivocation? A slap on the wrist via a press release? No matter what, it ain’t good for Reyes. I am quite sure the triumvirate is, well, pissed at him right now. Paging Sue Decker….
It seems like Google has really turned the corner. It is loosing a lot of the shine that made it popular for so long. Now it often looks defensive and bloated, like any number of other companies.
John – What is Reyes background/bio? Seems he might have pulled a rookie move here. Perhaps you should do a post on him (history, background, etc)
George is no rookie. He has solid creds from silicon valley. CFO’s, for the most part, are not great marketers so what we may have is just a different view of the elephant or someone who sees it in its entirety.
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George Reyes
Senior Vice President & Chief Financial Officer
George Reyes joined Google as chief financial officer in 2002. A seasoned finance executive with a wide range of experience at several well-known Silicon Valley technology companies, George joined Google from ONI Systems where, as interim CFO, he assisted in the sale of the optical networking company to Ciena Corporation.
Prior to ONI Systems, George spent 13 years at Sun Microsystems. During his years at Sun, he held a number of finance roles including Group Controller – General Systems, Director of Finance – Intercontinental Operations, Audit Director, Vice President – Corporate Controller and Vice President-Treasurer.
Currently, George is a Director of Symantec Corporation and BEA Systems Inc.
George holds an MBA from Santa Clara University and a Bachelor of Arts degree in accounting from the University of South Florida.