Sun Names New CFO

Michael Lehman replaces current chief Steve McGowan.
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Sun Microsystems

(SUNW) - Get Report

on Tuesday announced the appointment of Michael Lehman as chief financial officer, effective Feb. 22.

Santa Clara, Calif.-based Sun has been searching for the replacement of current CFO Steve McGowan since Oct. 2005, when he announced his plans to retire from the post.

McGowan, who has served as Sun's CFO and executive vice president of orporate resources since July 2002, will remain at Sun as executive vice president of finance. Lehman and McGowan will report directly to company CEO and Chairman Scott McNealy.

"We are fortunate to be able to tap into Mike's deep knowledge of the business, his breadth of senior management experience and legendary focus on execution," said Jonathan Schwartz, Sun's president and COO.

"Mike is well respected by Wall Street, our customers and employees, and maintains the highest standards of integrity," he added.

Lehman, who was the company's CFO from 1998 to 2002, returns to Sun after serving on the company's board of directors.

Shares of Sun closed the regular session down a nickel to $4.25.