Bloomberg News
SAN FRANCISCO - Charles Schwab Corp., the biggest discount brokerage in the United States, paid each of its co-chief executive officers $8.9 million in salary and bonus last year but has cut the pay of the co-CEOs and other top executives this year to help offset a decline in trading volume.
Charles Schwab, the firm's founder and chairman, and David Pottruck, president and co-chief executive, each received $800,004 in salary and $8.1 million in bonuses in 2000.
The co-CEOs also received options to purchase 300,000 shares. The company valued the option grant at about $12.1 million, assuming that Schwab's shares rose 10% a year for the next 10 years.
