---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-229532"
form_type: "8-K"
ticker: "SCHW"
cik: "0000316709"
company_name: "SCHWAB CHARLES CORP"
filed_at: "2024-10-01T23:59:59+00:00"
generated_at: "2026-05-30T23:59:15.647767+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Schwab CEO Walt Bettinger to retire Dec 31, 2024; President Rick Wurster named successor

## Summary
- Bettinger steps down as CEO effective Dec 31, 2024, becomes Executive Co-Chairman alongside founder Charles Schwab.
- Rick Wurster, President since 2021, appointed CEO and board member effective Jan 1, 2025.
- Wurster's 2025 compensation: $1.25M base salary, 325% target cash incentive, $12.6875M long-term incentive.
- Bettinger's tenure: client assets grew from $1.14T to $9.74T; market cap from ~$18B to ~$119B.
- Stock price rose from ~$16 (end-2008) to ~$65, a 400% increase; accounts grew from 9.3M to 43.2M.

## SEC filing metadata
- accession: 0001193125-24-229532
- form_type: 8-K
- ticker: SCHW
- cik: 0000316709
- company_name: SCHWAB CHARLES CORP
- filed_at: 2024-10-01T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/316709/000119312524229532/0001193125-24-229532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/316709/000119312524229532/d872219d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-229532
- JSON: https://secwatch.observer/filing/0001193125-24-229532.json
- Plain text: https://secwatch.observer/filing/0001193125-24-229532.txt

## Key facts
- Executive change
  Richard A. Wurster was appointed as Director at SCHWAB CHARLES CORP.
  - Action: appointed
  - Role: Director
  source text: Mr. Wurster was appointed as a member of the Board to fill such vacancy, effective as of the Transition Date, and will hold such office until the election of the class of directors whose term expires at the 2026 annual meeting of stockholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000119312524229532/0001193125-24-229532-index.htm
- Executive change
  Richard A. Wurster was appointed as Chief Executive Officer at SCHWAB CHARLES CORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: Also, on September 30, 2024, the Board appointed Richard A. Wurster to succeed Mr. Bettinger as CEO, effective as of January 1, 2025 (the “Transition Date”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000119312524229532/0001193125-24-229532-index.htm
- Executive change
  Walter W. Bettinger II retired as Executive Co-Chairman of the Board at SCHWAB CHARLES CORP.
  - Action: retired
  - Role: Executive Co-Chairman of the Board
  source text: Following the Transition Date, Mr. Bettinger will cease to serve as the CEO but will continue to serve, along with Charles R. Schwab, as the Executive Co-Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/316709/000119312524229532/0001193125-24-229532-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.