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Sun Sinks Into Black Hole On News Of President Ed Zander's Exit Fifth Exec To Leave Recently Zander's retirement alarms investors, who send stock plunging to three-year low.(INTERNET & TECHNOLOGY)
Byline: MURRAY COLEMAN
Sun Microsystems Inc. expects to climb back into profitability by the end of June.
But a new cloud of doubt is rising. In recent weeks, as its stock was sinking to a three-year low, investors learned that four key leaders were leaving or being reassigned. On Wednesday the number climbed to five.
Ed Zander, Sun's 55-year-old president and chief operating officer, says he'll retire on July 1.
"This was in the making for the past year," he said during a news conference. "It was time to find out what's next."
Zander's boss, Scott McNealy, is downplaying the string of departures as part of an orderly succession. The Sun chief executive says it's all tied into a plan to restore the slumping Silicon Valley giant to its pre-tech-wreck status.
But not everyone sees the exodus from Sun's top ranks as routine or as an orderly changing of the guard.
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