Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Google Inc (GOOGL)’s Stock Drops by 2% After its CFO’s Resignation

Google Inc (NASDAQ:GOOGL)’s stock suffered a 2% hit after its CFO, Patrick Pichette’s decision to resign from his position. Google Inc (NASDAQ:GOOGL) is expecting the transition to complete in the next six months. This was mentioned in company’s latest SEC filing.  While Google Inc (NASDAQ:GOOGL)’s stock dropped by more than 2% the same day, analysts on CNBC say the impact of CFO’s departure may not go that deep in the long run.

GOOGL Google Inc Logo

“I don’t know if it is a big shocker at Google but again since they don’t announce these things exactly ahead of time, I don’t think there is anything nefarious behind it. It’s probably just somebody that wants to get on with other things in their life. […]. If it’s an immediate departure then it is completely different. It’s an announced departure,”  Jon Najarian said.

After moving from Bell Canada to Google seven years ago, Pichette helped Google Inc double up its stock price and triple up its revenues. More recently Pichette has been on the front end explaining and defending Google Inc.’s business strategies during company’s quarterly earnings calls. He has assured Google Inc. of smooth transitioning and said he would remain with Google Inc. until they find a worthy contender to step into his shoes.

In the statement that Pichette shared publicly, on Google+, he said he had been continuously working for nearly 30 years and that the time has come when he would like to spend more time with his wife and family.  While he insists he loved his work at Google Inc., he said he never found a good excuse to give to his wife for not being able to spend enough time with his family.

“Working at Google is a privilege, nothing less. I have worked with the best of the best, and know that I am leaving Google in great hands. […].To be clear, I am still here. I wish to transition over the coming months but only after we have found a new Googley CFO and help him/her through an orderly transition, which will take some time,” Pichette wrote in his statement.

Even if it is a straight forward matter – as circumstances justify it is – but since Pichette has carried his company’s business philosophy and his association and leadership has brought Google Inc. so much success over the past 7 years – the 2% drop in Google Inc. stock might make some people question if the departure of such high profile key official would impact the overall business strategy of Google Inc.

I just made 84% in 4 daysI Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said “I lost money by EXACTLY following your stock picks”. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!