Sun Switches McNealy for Schwartz

Scott McNealy, the long-time CEO and one of the founders of computer server developer Sun Microsystems Inc., is stepping down, the company announced on Monday.

The often outspoken McNealy – known for his jibes against Microsoft Corp. and catchy phrases during the dot-com bust – will stay on as Sun chairman and chairman of Sun Federal Inc., where he will work with the company’s U.S. government customers.

Jonathan Schwartz will replace McNealy as CEO. He has worked for Sun since 1996. He was named president and COO in 1994.

"I am incredibly excited by what the future holds for Sun and the opportunity to continue working with Scott, and the rest of the management team, to help Sun attain its financial and operational goals," Schwartz said in a statement.

McNealy founded Sun along with Andy Bechtolsheim, Bill Joy, and Vinod Khosla in 1982.

Sun has been losing money in recent quarters; its stocks were up on news that Schwartz would replace McNealy.

Sun Microsystems Inc. www.sun.com

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