Santa Clara, Calif. -- Shares of Santa Clara-based Sun Microsystems rose sharply in Monday's after-hours trading after the company named Jonathan Schwartz to succeed Scott McNealy as its CEO. McNeally, who co-founded the company with Andy Bechtolsheim, Bill Joy and Vinod Khosla in 1982, will remain chairman, focusing on Sun's government and academic relationships. The company said that the move was the result of its "on-going succession planning process." Schwarz, who also will retain the role of president, joined the company in 1996 upon the company's acquisition of Lighthouse Design, where he served as CEO. He was named president and COO in April 2004,
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