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Time for Sun CEO to step down
Sun needs fresh blood in its upper echelon, argues Caris & Company research analyst Mark Stahlman.
The server maker has had only one CEO. Scott McNealy was the firm's co-founder, first salesperson and today still heads up the $11.6bn server maker.
McNealy succeeded at stabilising the server maker after it had a rough landing following the burst of the dotcom bubble, the analyst argued. So its time to move on.
Investors too might want to see new management take over. Judging by Sun's stock price, they feel that the company offers very little to get excited about - it has essentially been flat for the past 3 years.
Ultimately investors decide if McNealy gets to keep his job. And that's where the big catch is. McNealy is the largest single shareholder in the company owning nearly 1.4m of the 3.46bn outstanding shares (about 0.04 per cent. He is trailed by president and COO Jonathan Schwartz who owns about 1.2m Sun shares). Those number may not amount to much, but at least they give McNealy a voice at the table.
McNealy last February at RSA Conference in San Jose.
Tags: Sun microsystems, sunw, scott mcnealy
March 9, 2006 at 02:34 AM | Permalink
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