Source URL: http://www.maximumpc.com/article/maximum_it/rumor_sun_ceo_resign
Citing "sources close to Sun," CNet's John Paczhowski says Sun CEO Jon Schwartz will soon step down from his position as CEO and step out of the way as Oracle completes its $7.4 billion acquisition.
Scwartz stepped into his current role in April 2006 with big plans of turning Sun around. He wasn't able to do that, and though his time on top of Sun saw the acquisition of MySQL, open-sourcing Java, Solaris, and a few other notable strategies, all were of minimal benefit to Sun's bottom line.
But don't feel too bad for Schwartz. Based on Sun's definitive proxy statement, the rumored soon-to-be ex-CEO would rake in some $12 million in severance pay, in addition to about $5.1 million in Sun shares that he owns.
Source URL: http://www.maximumpc.com/article/maximum_it/rumor_sun_ceo_resign
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