U.S. Bancorp promotes Gunjan Kedia to President, overseeing all revenue lines

US BANCORP DE

Kedia, 53, previously Vice Chair of Wealth, Corporate, Commercial & Institutional Banking, now President effective May 3, 2024.
She will report to CEO Andy Cecere, who retains chairman and CEO roles; Kedia oversees three business lines.
Base salary increased to $1,000,000 annually; annual cash incentive target set at 250% of base salary.
Long-term incentive award of $1,500,000 granted May 6, 2024 (60% performance-based RSUs, 40% RSUs).
Kedia has nearly 30 years in financial services, including BNY Mellon, State Street, PwC, McKinsey.

item 5.02 item 9.01

Executive movements

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Role change

Gunjan Kedia

President

USB · US BANCORP DE

Effective: 2024-05-03
Filed: May 3, 2024, 7:59 PM ET

On May 3, 2024, U.S. Bancorp announced the promotion of Gunjan Kedia, 53, to the position of President of U.S. Bancorp and U.S. Bank National Association (“U.S. Bank”), its principal banking subsidiary, effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Gunjan Kedia changed role as President at US BANCORP DE.

Action: promoted
Role: President

Exact text from the filing

On May 3, 2024, U.S. Bancorp announced the promotion of Gunjan Kedia, 53, to the position of President of U.S. Bancorp and U.S. Bank National Association (“U.S. Bank”), its principal banking subsidiary, effective immediately.

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Source: SEC EDGAR

accession 0001193125-24-130532

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