The ponytial is in, according to a report just sent across PR NewsWire.

Jonathan Schwartz (pictured), current Sun Microsystems president, will succeed Scott McNealy as CEO, ending a week of intense speculation about a company that has stubbornly stayed mired in lackluster performance mode, guided by a CEO who has stubbornly refused to accede to Wall Street screaming to reduce the company's staff size dramatically.

Sun has maintained a workforce in the 30,000 range, with many analysts calling for an ideal company size that is a fraction of that number. In particular, Sun's extensive commitment to R&D has been targeted for years as unproductive, expensive, and a burden.

According to the PR Newswire release:

The appointment is the result of Sun's on-going succession planning process and is effective immediately. Schwartz, 40, succeeds Scott McNealy, 51, who will continue serving as chairman of the board and a full time employee,
devoted to expanding market opportunities for Sun around the globe. Schwartz also retains the title of president.

"Since joining Sun in 1996, Jonathan has been a driving force within the Company. His leadership has been instrumental in streamlining Sun's operations, building a solidly competitive product line, securing key acquisitions and major partner relationships and positioning us globally and across industries to reap the benefits of the networked marketplace,"
said McNealy. "Jonathan has earned the admiration and respect of our nearly 38,000 employees, our customers and partners and the industry as a whole. He is the ideal leader to take the helm as Sun's chief executive officer."

The release went on to say that McNealy "will focus his efforts on Sun's government and academic relationships globally, as well as expand his role with key strategic partner relationships. McNealy will also assume the role of chairman of Sun
Federal Inc., which focuses exclusively on U.S. government business."

Schwartz joined Sun in 1996 upon the Company's acquisition of Lighthouse Design, Ltd., where he served as chief executive officer. He was named Sun's president and chief operating officer in April 2004. He began his career as a consultant to financial services companies with McKinsey & Co., Inc., and holds degrees in economics and mathematics from Wesleyan University.