New Schwab Unit Chief
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Charles Schwab Corp. named Lawrence J. Stupski as chief executive of Charles Schwab & Co., its discount-brokerage subsidiary, a title previously held by company founder Charles R. Schwab. The move frees Stupski, 42, from day-to-day responsibilities for the unit so he can join founder Schwab, 50, in long-term strategic planning, a spokesman for the San Francisco-based firm said.
Stupski, who had been president and chief operating officer of the unit, also will continue as president and chief operating officer of the parent.
David S. Pottruck, 39, executive vice president of the parent, was named to the additional posts of president and chief operating officer of the subsidiary, replacing Stupski. Pottruck will direct moves to boost efficiency amid slower customer trading since the October stock market crash, the spokesman said.
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