Schwab snaps up Visa USA's comms chief

SAN FRANCISCO: Visa USA last week lost John Onoda, an EVP who, for the past two years, has overseen the company's communications activities, to number-one online brokerage Charles Schwab.

SAN FRANCISCO: Visa USA last week lost John Onoda, an EVP who, for the past two years, has overseen the company's communications activities, to number-one online brokerage Charles Schwab.

SAN FRANCISCO: Visa USA last week lost John Onoda, an EVP who, for the past two years, has overseen the company's communications activities, to number-one online brokerage Charles Schwab.

Onoda will serve as SVP and chief communications officer, a position that has stood vacant at Schwab since the departure of Kate Rohrbach more than seven months ago.

Onoda, whose resume boasts top-level communications positions with such brand-name companies as General Motors, Levi Strauss & Co. and McDonald's, said he was drawn to Charles Schwab because of the emphasis on 'culture and values.'

'I've had a lot of these corporate jobs, but for the first time in my life, every single senior executive I met initiated the conversation by talking about culture and values supported by communications as the company's philosophy,' he said. 'That's music to my ears as a PR professional.'

Though Charles Schwab, named Forbes' 'Company of the Year' for 2000, is considered a longtime media darling, the brokerage looks as though it may be entering some tough times. Much like its competitors, it has felt the sting of declining online trades tied to the stock market downturn.

In an effort to avoid layoffs and survive the decline in business, the company announced it would temporarily slash the salaries of all top corporate officers, including 50% cuts for David Pottruck and Charles Schwab, the brokerage's co-chief executives.

'When you've been on the cover of Forbes and the San Francisco Business Times, and been named one of Fortune's 'Best Places to Work,' all at once, there's not much upside left,' said Onoda.

'And with the stock market and economic environment the way it is right now, I hope I don't end up looking like the guy who messed everything up.'

Visa is looking for a replacement for Onoda.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in