Jonathan I. Schwartz
CEO of Sun Microsystems
Education
- Graduated - Bethesda-Chevy Chase High School in Bethesda, Maryland
- collage - Carnegie Mellon University
- - Wesleyan University At Wesleyan
Overview
Jonathan Ian Schwartz is an American businessman. CEO of Sun Microsystems, Inc.(MM) and He is president and CEO of CareZone, a firm intending to lower the price of prescription drugs for people with chronic illness.
Before founding CareZone, Schwartz had a nearly 15-year tenure with Sun Microsystems, culminating in his serving as CEO just prior to and during the company's battle for survival during the American financial crisis, and its subsequent acquisition by Oracle.
He was also the founder and chief executive officer of Lighthouse Design, Ltd., a software company focused on the NeXTSTEP platform. Lighthouse was acquired by Sun in 1996.
Career :
Schwartz started his career in 1987 at McKinsey & Company in New York City.[citation needed] In 1989, Schwartz left McKinsey and moved to Chevy Chase, Maryland, where he was a co-founder of Lighthouse Design, a company focused on building software for NeXT Computer, Inc. In the early 1990s, Lighthouse Design moved to San Mateo, California. Eventually, Schwartz became chief executive officer of Lighthouse.
In 1996, with NeXT failing in the marketplace and the internet beginning to explode globally, Lighthouse was acquired by Sun Microsystems.
He began his career at Sun working for Eric Schmidt, then the head of Sun Labs. After Schmidt's departure for Novell, Schwartz became the director of product marketing for JavaSoft in 1997 and then transitioned through a series of vice president positions. In 2004, Schwartz was promoted to president and chief operating officer of Sun. He eventually succeeded Scott McNealy as CEO in April 2006.
As CEO of Sun :
As CEO of Sun, he dramatically amplified[clarification needed] Sun's historically tepid embrace of open source and freely distributed software, attempting to drive adoption, in particular, of Sun's operating system, Solaris. Sun's historic decision to abandon Solaris on Intel compatible x86 computers, he stated in subsequent interviews and blog postings, had entirely undermined the hardware platforms on which Sun depended for revenue – hardware systems that ran only Sun's Solaris.
Sun's stock reached a high of $26.25 in 2007, a point just prior to which private equity investors KKR invested $750m dollars in a convertible debt financing. Toward the end of 2007, with nearly a third of its revenue derived from financial services companies, the global financial crisis hit Sun especially hard. With large customers going bankrupt across the world, Schwartz began looking for a buyer for Sun.
Schwartz ultimately finalized an acquisition, signing an agreement for the sale of the company to Oracle Corporation on April 20, 2009. Oracle had been Sun's largest ISV, and the price of its database was typically a multiple of the price of the Sun hardware on which it ran. Thus, Oracle had the ability, by modifying its pricing, to determine which hardware vendors were chosen. After the acquisition, Oracle dropped the pricing of its database on Sun hardware, in an attempt to boost its performance.
As CEO of Sun, Schwartz was known as one of the few Fortune 500 CEOs to use a blog for public communications. He was recognized for his efforts to bring greater transparency into the corporate world,[citation needed] and managed a public exchange with SEC Chairman Christopher Cox about the use of websites and blogs for the dissemination of financial information to meet Regulation Fair Disclosure.
Early Life
Schwartz was born October 20, 1965 in Southern California, and spent much of his childhood moving between the West Coast and Washington, D.C., graduating in 1983 from Bethesda-Chevy Chase High School in Bethesda, Maryland. With aspirations of becoming an architect, in 1983 he entered college at Carnegie Mellon University, and subsequently transferred to Wesleyan University in 1984. At Wesleyan, he ran short of funds and was preparing to drop out, when a friend suggested he apply for a scholarship, the Gilbert Clee Scholarship. He was awarded the scholarship, which funded the remainder of his university expenses. He received dual degrees in mathematics and economics.
In 1987, Schwartz was nearly killed while riding on the Amtrak Colonial train that crashed in Chase, Maryland. He is cited in interviews as saying the incident had a profound impact on his life.
Career
- Sun Microsystems - CEO
