Google Financial Chief Reyes to Retire

Updated from 4:25 p.m. EDT

Google(GOOG) CFO George Reyes will retire from his position, the company announced on Tuesday.

Reyes will help search for a new CFO and is expected to leave the role by the end of the year, Google said in a press release.

"As Google's CFO, George successfully navigated our innovative IPO, the regulatory demands of Sarbanes-Oxley, and the management challenges of scaling a global finance organization," CEO Eric Schmidt said in the press release.

A Silicon Valley veteran, Reyes became CFO of Google in 2002. Prior to Google, he was interim CFO of networking company ONI Systems.

But Reyes also spent 13 years holding a variety of roles at Sun Microsystems(JAVA) at the same time Schmidt was at the company.

At Google, Reyes had a visible roll on the company's management team, often fielding questions of concern about the company's aggressive spending on capital expenditures and new hires during quarterly conference calls.

"George has been a full partner in Google's global growth and development," added co-founder Larry Page. "He has done an excellent job in keeping us financially disciplined while protecting the best of our entrepreneurial culture."

Shares of Google were up 44 cents to $506.84 in recent after-hours trading.

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