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Google (NASDAQ:GOOG) CFO George Reyes had a very good reason for his decision to retire. Reyes hasn’t actually given a reason, but the Wall Street Journal offers one up:

At the end of 2006, he had 51,750 exercisable Google options that had a value of about $23.6 million, and had also sold $259.5 million of Google stock since August 2004, according to compensation-research company Equilar Inc.

In other words, he already has enough money for many lifetimes. Why work?

Several analysts late Tuesday advised investors not to read too much into Reyes’ departure.

Brian Pitz and Brian Fitzgerald of Bank of America said the resignation was a “non-event” for investors, and said Reyes was resigning for personal reasons.

Benjamin Schacter of UBS takes a similar stance.

Based on discussions with internal and external sources knowledgeable about the situation,” he wrote, “we believe that his departure is most likely a personal decision, and is not indicative of any problems at GOOG, nor do we believe that investors should read through this announcement and assume anything about recent or near-term performance.

One odd tidbit about Reyes: he is the uncle of former Brocade (NASDAQ:BRCD) CEO Gregory Reyes, who was recently convicted of 10 counts of securities fraud in connection with stock-options backdating.

In after hours trading Wednesday, Google fell 40 cents to $506.

Source: Analysts Consider Retirement Of Google CFO A "Non-Event"