Tuesday, April 25, 2006
Sun Microsystems co-founder Scott McNealy has stepped down as chief executive, and has been replaced by President Jonathan Schwartz, the company said Monday.
McNealy has been CEO for 22 years. He has been a strong and often contrarian voice for change in the computing industry, but in recent years his vision hasn't translated into financial success.
"Jonathan has risen to the top of the class, and he is ready," McNealy, 51, said in a conference call. The move was planned, he added: "It's part of our ongoing succession process we've been working on since my days at the (General Electric) board."
Schwartz, 40, said the main difference under his leadership will be a greater emphasis on "growth and financial performance, now that the technological performance and customer performance is back at a level we think is reasonable," speaking on the conference call.
By: DocMemory
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