Scott isn't going, he's just stepping back from the limelight
By jmcp on Apr 26, 2006
I got up earlyish yesterday to catch our 3rd quarter earnings announcement. We did ok --- in line with Wall St estimates. That was nothing compared to the "whoa, wtf?!?!?" that I experienced when I saw Jonathan's message talking about Scott's legacy.
A quick reload on the browser for Yahoo! finance and I saw that Scott had stepped down as CEO (and that there was a USD0.40 spike in the share price).
I am so very, very glad that Scott hasn't resigned and left the company. All he's doing is taking a step backwards out of the limelight to become chairman of the board. He's still going to be part of Sun but (I hope) getting more sleep at night.
Today I read Ashlee Vance's interview with Scott. It was fine vintage Scott, from the Scott that I've known and admired for so many years.
I particularly liked this comment (page 2):
I don't have the same sense of urgency to go blow away customer value that someone who is trying to make a buck this quarter on the street who has no vested interest in the long-term shareholder value of this company has. I don't listen to that garbage.
So take that! Laura Conigliaro. And incidentally, I saw this report mentioning a portfolio manager whose company sold SUNW after the bubble burst and ".... hasn't touched Sun since." Hmmm. I've still got my SUNW stock that I bought just before the height of the bubble. I'm keeping it because I believe in this company --- what it stands for, what it produces, what it values. I'm not in the stock market to make a quick dollar.