“As I approach my 65th birthday in 2025, the time is right for me to transition from day-to-day duties and focus on my role as Executive Co-Chairman of the Schwab Board of Directors,” Bettinger said in a statement. “Serving the clients, employees and stockholders of Schwab as CEO for the past 16 years has been the honor and privilege of my more than 40-year business career.”
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He will keep his executive co-chair position with founder Charles R. Schwab after retiring as CEO, according to the company.
“Walt’s successful tenure as CEO saw the most significant growth in the company’s history in terms of clients, assets, revenue, profits, and market capitalization,” Schwab said in a statement. “He has earned the right to determine the timing of his retirement as CEO, and I am delighted that he will continue to serve as Executive Co-Chairman of the Board of Directors with me.”
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