USAA Chief Operating Officer Stuart Parker will become the company's next CEO when Joe Robles retires from the position at the end of February 2015.

“Stuart is the right choice to lead USAA forward at a time when the financial services industry is undergoing tremendous changes,” USAA Chairman Gen. Lester Lyles, USAF (Ret.), says in a statement. “The board has found a successor who demonstrates clear devotion to USAA's mission to serve the military and their families, deep appreciation and respect for our employees who represent the finest workforce in America, keen business and financial acumen, and unquestionable ethics.

“The board's decision was unanimous because Stuart meets all of those criteria and more.”

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