Jonathan Schwartz is the new CEO of Sun Microsystems Inc.

Jonathan Schwartz is the new CEO of Sun Microsystems Inc.

Sun Microsystems Inc. has announced that Jonathan Schwartz would be taking over as the new CEO of the company after Scott McNealy resigned from his position.

Jonathan Schwartz has now pledged to revive sales growth and reverse five years of market-share losses at the company.

Schwartz added that he would be spending the next couple of weeks reviewing the company spending and he has no plans for drastic job cuts in the near future.

Sun Microsystems added that McNealy would remain chairperson at the company for the time being.

Sun is the world’s forth-largest server maker and trails Hewlett-Packard Co. and Dell Inc massively. Market analysts believe that the company would need to cut as much as 25 percent of its workforce to cut costs and get back to profitability.