February 23rd, 2005
Scott McNealy's Carly Fiorina moment?
Charlie Cooper asks why Sun CEO Scott McNealy is still in the driver’s seat despite what he termed a "dismal" performance for shareholders post-bubble. Coop comments:
To be sure, McNealy is a co-founder and still owns more than 56 million shares. But my guess is the top institutional holders–Capital Research and Management Company, Barclays’ Bank, State Street Corp., the Vanguard Group and FMR Corp.—are increasingly anxious to see better results sooner, not later.
If Sun doesn’t execute well on what many experts think is a strong and innovative plan in the next several quarters, then McNealy may want to ride off into the sunset…or give up two of his three titles, which are Chairman, CEO and President…
Correction: McNealy has already given up the President title to Jonathan Schwartz…maybe he will give up one of his two remaining titles…
Dan Farber, editor-in-chief of CNET News.com, has more than 20 years of experience as an editor and journalist covering technology. See his full profile and disclosure of his industry affiliations.
