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Sun's McNealy Steps Down

Stock quotes in this article: SUNW  

Updated from April 24

Sun Microsystems'(SUNW Quote) third-quarter earnings report had a brief spotlight Monday until the company announced that longtime CEO Scott McNealy would be replaced by President and Chief Operating Officer Jonathan Schwartz.

McNealy, 51, will continue serving as chairman and a full-time employee, "devoted to expanding market opportunities for Sun around the globe," the company said. Schwartz also will keep title of president.

In early Tuesday trading, shares of Sun rose 22 cents, or 4.4%, to $5.20. ...

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