Charles Schwab CEO Walt Bettinger to Retire After 16 Years

Rick Wurster, current President, will take over as CEO on January 1, 2025, as Bettinger transitions to executive co-chairman.

Walt Bettinger will retire as CEO of Charles Schwab at the end of 2024, concluding a 16-year tenure.
Bettinger, who will turn 65 next year, will remain with the company as executive co-chairman of the board.
Rick Wurster, who has been with Schwab since 2016 and served as President since 2021, will assume the CEO role.
During Bettinger's leadership, Schwab's client assets grew from $1.14 trillion to $9.74 trillion, and the company acquired TD Ameritrade.
The transition comes as Schwab navigates challenges from elevated interest rates and a banking crisis that impacted its earnings.