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Some want to trade profits for nonprofits

When it comes to retirement, many finance executives are walking away from the corporate world years earlier than their father's generation.

By Staff Writer | Updated on September 11, 2007

When it comes to retirement, many finance executives are walking away from the corporate world years earlier than their father’s generation. In just the last month, three fiftysomething CFOs have announced their retirements. Google Inc.’s George Reyes, 53, is leaving at the end of the year; Kraft Foods Inc.’s James Dollive, 56, is departing Sept. 30; and Nationwide Mutual Insurance Co.’s Robert A. Rosholt, 56, is leaving next year.

“Retire” is the operative word. None of the three said they were “stepping down” or “resigning” or “moving to explore other opportunities.” They were, they made clear, “retiring”–or, as Webster defines the word–withdrawing from business. That doesn’t mean that one or more won’t come out of the shadows to take another crack at a challenging job in the business world, but headhunters and consultants expect many options-rich executives to slide into quieter and, perhaps, more socially fulfilling lives.

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