As CEO of Sun, he changed Sun's historically poor embrace of open source and freely distributed software, attempting to drive adoption, in particular, of Sun's operating system,
Solaris. Sun's decision to abandon Solaris on Intel compatible x86 computers, he stated in subsequent interviews and blog postings, had undermined the hardware platforms on which Sun depended for revenue – hardware systems that ran only Sun's Solaris. Sun's stock reached a high of $26.25 in 2007, a point just prior to which private equity investors
KKR invested $750 million in a convertible debt financing. With nearly a third of its revenue derived from financial services companies, the
2008 financial crisis affected Sun especially hard. With large customers going bankrupt across the world, Schwartz began looking for a buyer for Sun. Schwartz ultimately finalized an acquisition, signing an agreement for the
sale of the company to Oracle Corporation on April 20, 2009. Oracle had been Sun's largest
ISV, and the price of its database was typically a multiple of the price of the Sun hardware on which it ran. Thus, Oracle had the ability, by modifying its pricing, to determine which hardware vendors were chosen. After the acquisition, Oracle dropped the pricing of its database software on Sun hardware, in an attempt to boost its sales performance. As CEO of Sun, Schwartz was known as one of the few
Fortune 500 CEOs to use a blog for public communications. He also managed a public exchange with SEC Chairman
Christopher Cox about the use of websites and blogs for the dissemination of financial information to meet
Regulation Fair Disclosure. == Post-Sun ==