Charles Schwab Corporation is reporting the resignation of Steven Scheid, vice chairman and president of retail. David Pottruck, president and co-CEO of the company will temporarily assume direct responsiblity for the retail business until a replacement can be found.
Schwab and Pottruck say they intend to select Scheid's successor from within the company. "The best way we can keep our momentum building is to appoint a new head of retail who is already knowledgeable about our organisation and our clients' needs, and who is committed to our program and culture, " says Pottruck.