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resign

Rumor: Sun CEO to Resign

Posted 01/27/2010 at 5:30am | by Paul Lilly

3

Comments

Citing "sources close to Sun," CNet's John Paczhowski says Sun CEO Jon Schwartz will soon step down from his position as CEO and step out of the way as Oracle completes its $7.4 billion acquisition.

Scwartz stepped into his current role in April 2006 with big plans of turning Sun around. He wasn't able to do that, and though his time on top of Sun saw the acquisition of MySQL, open-sourcing Java, Solaris, and a few other notable strategies, all were of minimal benefit to Sun's bottom line.

But don't feel too bad for Schwartz. Based on Sun's definitive proxy statement, the rumored soon-to-be ex-CEO would rake in some $12 million in severance pay, in addition to about $5.1 million in Sun shares that he owns.

» Read More

Lenovo CEO Steps Down after Dismal Quarter

Posted 02/06/2009 at 8:34am | by Paul Lilly

3

Comments

After serving three years at the helm, Lenovo CEO William Amelio handed in his resignation. The timing of Amelio's departure comes amid dismal quarterly numbers for the company, which includes a $96.7 milion quarterly loss. It's the first time in several years since taking over IBM's personal computer division that Lenovo has fared so poorly. But is Amelio to blame?

"My take on his departure was that he was really the fall guy for Lenovo's problems in the last year or so -- and rightfully so in some respects, because a lot of these issues came under his tenure," said John Spooner, an analyst with Technology Business Research. "I think that if Lenovo had been a little more successful, he may have stuck around for a bit."

Amelio's resignation comes at the end of his three-year contract, during which time Lenovo gave up market share in the enterprise sector to Dell and HP.

» Read More

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