April 2, 2002 |
Charles Schwab Corp. slashed the pay of its two top executives 93% last year, when the San Francisco-based discount brokerage firm fired about 6,000 employees as earnings fell. Charles Schwab and David Pottruck, the firm's co-chief executives, each earned $650,000 in 2001. They each had earned $8.9million in salary and bonus in 2000. The executives also were granted stock options valued at about $13 million, assuming a 5% gain in each of the next 10 years.
December 3, 1997 |
The founder of Charles Schwab Corp. has decided to share the chief executive's title. David Pottruck, president and chief operating officer of the San Francisco-based discount broker, will get the additional title of co-chief executive starting Jan. 1. However, Charles R. Schwab will continue as chairman, and Pottruck will continue to report to him. Schwab, 60, stressed the move should not be considered as a step toward his own retirement. He has said in the past that he may never retire.
December 7, 1998 |
Outgoing House Speaker Newt Gingrich appointed a Californian and four others last week to the Advisory Commission on Electronic Commerce, a new board established by the Internet Tax Freedom Act. Dean Andal, chairman of the California State Board of Equalization, joined the 19-member advisory board, which will study issues related to taxes and tariffs on Internet access and online transactions.
February 18, 2004 |
Charles Schwab Corp., the biggest U.S. discount brokerage, said Tuesday that client stock trading in January rose 28% from December levels but surged 70% from the year-ago month. Schwab, based in San Francisco, reported 215,000 daily average revenue trades for January.
February 1, 2003 |
Discount brokerage Charles Schwab Corp. said Friday that it would split the jobs of chairman and chief executive in a bid to guard against concerns over its corporate governance structure. Charles Schwab, the 65-year-old founder of the world's biggest discount brokerage, will give up his co-CEO post but remain chairman, helping set strategy and representing the San Francisco-based firm to the public, spokesman Glen Mathison said. David S.
March 16, 2001 |
Charles Schwab Corp. said earnings will probably miss analysts' expectations because of the stock market plunge. The No. 1 discount broker might announce job cuts this month as trading by clients fell to its lowest level since August. After losing 48% in the last year, Schwab's market value has fallen to $23 billion, about half that of Merrill Lynch & Co., the biggest U.S. brokerage by assets. Schwab and Merrill's market values were even at the beginning of 2000.