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News > Technology  
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Sun Micro president retiring
Edward Zander to leave company July 1; Chairman and CEO McNealy will assume his duties.
May 1, 2002: 9:55 AM EDT

NEW YORK (CNN/Money) - Sun Microsystems Inc. said Wednesday its president and chief operating officer, Edward Zander, has decided to retire from his full-time duties with the network hardware company.

Zander, 55, will hand over his duties to Chairman and CEO Scott McNealy on July 1, the end of the company's fiscal year, but will stay on to assist with the transition and begin a teaching and mentoring role for the rest of 2002.

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Shares of Sun Microsystems (SUNW: down $0.85 to $7.33, Research, Estimates) fell almost 10 percent in early trading Wednesday.

Zander is the third top-level Sun Microsystems executive to step down in recent weeks. Chief financial officer Michael Lehman announced his retirement last Thursday, and John Shoemaker, executive vice president of the company's core computing systems business, announced last month he will step down effective July 1.

"I am proud of all that we have achieved at Sun," Zander said in a statement. "This is a decision I have considered carefully over the past year. As we are marching down the path back to profitability, and have, for the most part completed our massive product and customer engagement transitions, I believe I have accomplished what I set out to do."

Sun has no plans to name a successor to Zander, as McNealy will take over the role of president in addition to his current duties, and oversee Zander's staff.

"Over the last 15 years, Ed has worked tirelessly to lead Sun through several transformations and to the forefront of the computer industry," McNealy said.

As president and chief operating officer, Zander runs the company's day-to-day business operations and has been responsible for finding ways to implement Sun's goal to be one of the largest suppliers of network products, technologies and services.

Prior to being named chief operating officer, Zander was president of Sun's computer systems business and held other management positions at the company. Before joining Sun he was a manager at Apollo, Data General and Raytheon.  Top of page


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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.