Sun's CFO steps down
- 26 April, 2002 10:11
Sun Microsystems will lose another top executive with chief financial officer Michael Lehman saying he will retire in July, just over a week after the head of the company's hardware business made a similar decision.
Lehman, 51, will step down after close to 15 years at Sun and take on part-time teaching and mentoring duties at the company. He will be replaced by Steve McGowan, vice president of finance, planning and administration for global sales operations at Sun, who has been at the company since 1992. This transition should be completed by July 1 at which time McGowan will report directly to Scott McNealy, chairman and CEO.
Lehman's departure follows on the heels of a similar decision made by John Shoemaker, Sun's executive vice president for computer systems. Shoemaker said last week that he will also retire in July and turn over his duties as head of the processor and server groups to three Sun executives.
Lehman will leave Sun during one of the most tumultuous times in the company's history. Sun made its first ever mass layoffs last year, as server sales dried up. The company has posted losses in recent quarters but Lehman has said Sun should return to profitability in its next quarter.
Lehman, also an executive vice president, oversaw Sun's finance, legal, real estate and information resources functions during his career.