Sun's Scott McNealy steps down
Scott McNealy has stepped
as Sun's CEO, leaving his place to now ex-president and COO
Jonathan Schwartz. McNealy, who was perhaps best known for his unbridled
at Microsoft, co-founded Sun in 1982 and had been CEO since
1984. Looking back on his career at Sun, he said the following:
Sun has been a labor of love for me for since 1982, and it has been an
honor and privilege to serve as its CEO for the past 22 years. We've
helped shape the industry as it is today, and the opportunities before
us are immense. I look forward to a smooth transition and to working
with Jonathan on company strategy in my continued role as chairman.
McNealy will stay on as chairman of the Sun Federal subsidiary, becoming "more actively involved with the customer base than
he previously was." Meanwhile, Schwartz says his emphasis as the new CEO
will be on "growing the business" and expanding its consumer base.
Shareholders appeared to celebrate McNealy's departure, raising Sun's
share price 8% to $5.37.