Charles Schwab Corp. Names CEO Bettinger as Co-Chairman
28 July 2022 - 11:42PM
Dow Jones News
By Colin Kellaher
Charles Schwab Corp. on Thursday said it named longtime Chief
Executive Walter Bettinger II to the additional post of
co-chairman, as the discount brokerage's founder and namesake
continues to pass the baton.
The Westlake, Texas, company said Mr. Bettinger, 61 years old,
would serve as co-chairman alongside Charles Schwab, who founded
the brokerage in 1971 and turns 85 on July 29.
Schwab said the move is part of a "thoughtful and long-term
succession plan," adding that Mr. Schwab would remain actively
involved in the firm's strategic direction and corporate
governance.
Mr. Bettinger, who joined Schwab in 1995 as part of its
acquisition of Hampton Co., took the helm as CEO from Mr. Schwab in
2008. He has been Mr. Schwab's heir apparent since February 2007,
when he was named president and chief operating officer.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 28, 2022 09:27 ET (13:27 GMT)
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