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Schwab CFO, 47, to Retire

Christopher Dodds achieves a goal he publicly set almost a decade ago.
Helen ShawJanuary 26, 2007

Christopher Dodds, 47, who has served as chief financial officer of Charles Schwab & Co. for the past eight years, announced Thursday that he will retire on May 18.

In January 2000, CFO magazine highlighted Dodds in an article featuring the finance chiefs who will make a difference in the next decade. At the time that article went to press, the former captain and academic all-American point guard for the Clemson University basketball team said he aimed to retire before 50. In May, Dodds will achieve that goal.

Since Dodds joined Schwab in 1986, he has held a number of positions in corporate development, treasury, and financial planning and analysis. Prior to becoming CFO in July 1999, Dodds served as corporate controller from 1997 to 1999 and as treasurer from 1993 to 1997. He has overseen Schwab’s turnaround and, in 2005, its switch from being a dual-listed company on the New York Stock Exchange and Nasdaq Stock Market to one that lists solely on Nasdaq.

In a statement, Dodds explained that he will “pursue other activities including service on corporate boards and philanthropic activities, and to create a different work-life balance.” He said that he believes Schwab is well positioned for success in the future and he will now devote more time to his family and community.

The founder of the financial-services provider, Charles Schwab, commented on Dodds’s crucial role in helping to guide the company to its “renewed trajectory of growth during the last three years.”

Joseph Martinetto, senior vice president and treasurer at Schwab, will replace Dodds as CFO at the company’s annual meeting on May 18. Martinetto, 45, joined Schwab in 1997 and has been CFO of the Schwab Investor Services enterprise. In addition to his role as treasurer, since 2005 Martinetto has overseen the company’s financial planning and analysis function. Before joining Schwab, he worked at Transamerica Corp. as senior assistant treasurer, and at First Interstate Bancorp in asset-liability management.