Rex Tillerson’s departure a ‘disappointment’: Charles Schwab

Charles Schwab, chairman and founder of discount broker Charles Schwab Corp., said he’s upset that Secretary of State Rex Tillerson is leaving the Trump administration.

“It’s a disappointment to have Tillerson leave,” Schwab told FOX Business’ Maria Bartiromo during an exclusive interview on “Mornings with Maria.” “I think he was an exquisite secretary of state.”

President Donald Trump announced Tuesday morning on Twitter the decision to oust Tillerson and said he is replacing him with CIA Director Mike Pompeo. Pompeo formerly served as the Republican representative from the fourth district of Kansas.

“He’s a good man,” said Schwab, referring to Pompeo.

While Tillerson’s departure ends the tumultuous relationship over foreign policy strategy that he had with Trump, Schwab said change isn’t necessarily bad.

“There are changes in any administration,” Schwab said. “There’s always rotation going on all the time, and so you have to expect that.”

The news comes a week after top economic White House adviser Gary Cohn resigned over disagreement with Trump over steel and aluminum tariffs.

Schwab said he would like to see former Reagan administration adviser Larry Kudlow take his place.