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Rumor: Sun looking for new COO

Rumors are swirling about the fate of Sun Microsystems' top executives, fueled by the return of Chief Financial Officer Mike Lehman and his no-stone-unturned "fresh look" at the server and software company's operations.

The latest rumor is that Sun hired an executive search firm to look externally for a new chief operating officer. Jonathan Schwartz has held that title, along with that of president, for two years. He currently also is acting executive vice president of software in the wake of John Loiacono's departure to Adobe Systems.

One popular rumor is that . If Schwartz gets moved to CEO, as some suspect, or returns permanently to his old job as EVP of software, that would leave a slot open for COO.

Sun declined to comment on the rumor.