Sun's Chief Financial Officer Announces Retirement

Lehman, 51, will be replaced by Steve McGowan, who is currently vice president of finance, planning and administration for the company's global sales operations. The transition will take place July 1.

Lehman, who said he originally planned to step down last summer, said he wants to spend more time with his family. He will remain with the company on a part-time basis, serving as a mentor to other executives.

'We had a great 15-year run with Mike,' said Scott McNealy, Sun's chief executive. 'He's been a key component in building the integrity and fantastic financial practice we have at Sun.'

Lehman's departure is the second high-level retirement in recent weeks. On April 16, the company said John Shoemaker, executive vice president of computer services, will step down after 12 years with Sun.

McNealy declined to speculate on future executive moves but said he personally had no plans to step down from the company he founded in 1982.

'I am having a blast, enjoying what I'm doing and don't at all feel like I'm done,' McNealy said.

In recent years, Sun has been at the top of the high-tech boom and was hit hard by the subsequent collapse. The company expects to return to profitability in the current quarter.

Sun also has been a vocal critic of Microsoft Corp. Earlier this year, it filed a lawsuit against the software giant, claiming it is using its monopoly position to damage Sun's Java programming language.

Lehman was named chief financial officer in 1998. Previously, he served as Sun's vice president and corporate controller. He joined the company in 1987 after serving as a senior manager in the San Francisco office of what was then called Price Waterhouse.

McGowan, 53, joined Sun in 1992.

Shares of Sun were down 32 cents to $8.34 in early trading on the Nasdaq Stock Market.

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