Joseph Martinetto to be Named CFO
SAN FRANCISCO, Jan. 25 /PRNewswire-FirstCall/ -- The Charles Schwab
Corporation announced today that Christopher V. Dodds, Schwab's executive
vice president and CFO, will retire on May 18, following Schwab's annual
stockholders meeting, and Joseph R. Martinetto, Schwab's senior vice
president & treasurer, will replace him as CFO at that time.
"Chris has played a pivotal role helping to steer Schwab, and in
particular, helping me turn the company around and put it on its renewed
trajectory of growth during the last three years," said Charles R. Schwab,
Schwab founder, chairman and CEO. "One of Chris's great strengths has been
building a team of executives around him, and we're confident of a smooth
transition for Joe, a nine-year veteran at Schwab and a strong executive to
fill the CFO role."
Dodds joined Schwab in 1986 and has held a variety of financial
positions in treasury, corporate development, and financial planning and
analysis. He served as treasurer from 1993 to 1997, corporate controller
from 1997 to 1999, and chief financial officer since July 1999.
Describing his decision to retire, Mr. Dodds said, "I feel that Schwab
is superbly positioned for success in the years ahead and I am extremely
fortunate to have reached a point in my life where I now have the
flexibility to be able to devote more time and attention to my family and
my community. Leaving behind the daily demands of my current job provides
me the time to pursue other activities including service on corporate
boards and philanthropic activities, and to create a different work-life
balance."
Martinetto, 45, joined Schwab in 1997 as senior vice president and
treasurer. During his tenure at Schwab he has also held the role of chief
financial officer for the Schwab Investor Services enterprise, the largest
division of the company. He resumed the role of treasurer in 2003 and in
2005 also assumed responsibility for the company's financial planning and
analysis function. Prior to joining Schwab, Martinetto was senior vice
president, senior assistant treasurer at Transamerica Corporation and
senior vice president, asset liability management at First Interstate
Bancorp. He received his BA from Claremont McKenna College in Claremont
California and an MBA from the University of California, Berkeley.
About Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 300 offices and 6.7 million client
brokerage accounts, 542,000 corporate retirement plan participants, 147,000
banking accounts, and $1.2 trillion in client assets as of December 31,
2006. Through its operating subsidiaries, the company provides a full range
of securities brokerage, banking, money management and financial advisory
services to individual investors and independent investment advisors. The
Charles Schwab Bank, N.A. (member FDIC) provides banking and mortgage
services and products. More information is available at http://www.schwab.com .
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
media, Greg Gable, +1-415-636-5847, or
investors/analysts, Rich Fowler, +1-415-636-9869, both of Charles
Scwhab
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