Charles Schwab Corporation Names Co-Chairman of its Board of Directors

The Charles Schwab Corporation announced its board of directors has unanimously approved the appointment of Chief Executive Officer Walter W. Bettinger II as Co-Chairman of the Schwab Board of Directors, along with Founder and Co-Chairman Charles R. Schwab. In addition to becoming Co-Chairman for The Charles Schwab Corporation, Mr. Bettinger will become Co-Chairman of the boards of the firm’s banking subsidiaries: Charles Schwab Bank, SSB (CSB); Charles Schwab Premier Bank, SSB (CSPB); and Charles Schwab Trust Bank (CSTB). These changes reflect Mr. Schwab’s and the board’s intention to ensure strategic and leadership continuity for the firm by following a thoughtful and long-term succession plan. As Chief Executive Officer (CEO) and Co-Chairman of the Board, Mr. Bettinger will maintain his current chief executive responsibilities and also share responsibilities for leadership of the Board with Mr. Schwab. Mr. Schwab will continue to be actively involved in the firm’s strategic direction and corporate governance. Mr. Bettinger has served as CEO of The Charles Schwab Corporation and a member of the Board of Directors since 2008.