DAVID PAUL MORRIS / GETTY IMAGES

Scott McNealy at a 2003 news conference.

After 22 years as CEO, Sun Microsystems' Scott McNealy abruptly resigned today, the same day the company is reporting that its quarterly losses widened to $217 million, compared with $28 million a year ago.

McNealy, who co-founded the company, will stay on as chairman. Sun promoted COO Jonathan Schwartz to take McNealy's place. The news is conspicuously absent from Schwartz's blog, which features a huge picture of himself meeting with the president of Brazil.