Charles Schwab stepped down as CEO of his firm Friday, while remaining on as chairman. This looks like just a sensible combination of corporate governance reform (Schwab’s explanation) and the 65-year-old Schwab beginning the transition to the next generation of leadership for his company. But you do have to wonder, his denials to the contrary, if Schwab would be a candidate for public office. I assume from some of his public positions that he’s a Republican, although whether a moderate or a conservative, I’ve no idea. But he’s got huge name recognition and deep pockets.
In the end, probably the biggest hurdle is that he’ll be 69 when Gray Davis’ term ends. Guys like Schwab are generally better suited to be governors than senators. Still, in a California GOP desperate for winners, he’d be a guy worth talking to.