Sun CEO Set to Resign

Jonathan Schwartz, pony-tailed CEO of Sun, is supposedly resigning from the company very soon. Don’t feel bad for Schwartz though, according to the report he will walk away from Sun with a severance package worth over $17M.

When he was appointed CEO in April 2006, Schwartz was charged with restoring Sun to its glory days. Sadly, he was unable to do it. And while he came up with some inventive strategies--buying MySQL, open-sourcing Java, and Solaris--none were of much benefit to Sun financially. So now, with the former Silicon Valley icon about to become another acquisition notch in Oracle's belt, Schwartz is leaving.

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