Scott McNealy steps down as CEO

Sun's financial turmoil:

Revenue rose 21 percent to $3.2 billion for the quarter ending March 26, up from $2.6 billion a year earlier, in part because of acquisitions. Still, Sun posted a net loss of $217 million, or six cents a share, up from a net loss of $28 million, or one cent a share, a year earlier. About a quarter of the latest quarterly loss -- $57 million -- was due to stock-based compensation charges.

Scott McNealy steps down as CEO and takes on role of Chairman. Jonathan Schwartz replaces McNealy. From what i have learnt from reading about Jonathan, it appears that he is an ambitious guy with an eye to improve the finances of the company.

Let's see what Sun does in the future..

This posting is provided "AS IS" with no warranties, and confers no rights.


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