---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-204316"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2024-08-21T23:59:59+00:00"
generated_at: "2026-05-31T08:20:06.428450+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# U.S. Bancorp Payment Services Vice Chair Shailesh Kotwal to retire in H1 2025

## Summary
- Shailesh Kotwal, Vice Chair of Payment Services, intends to retire in first half of 2025.
- Kotwal, 60, will remain in his role for several months; search for successor begins immediately.
- Kotwal joined U.S. Bancorp in 2015 and led Payment Services expansion in digital and card payments.
- He was also a key voice on Elavon Financial Services board in Europe.

## SEC filing metadata
- accession: 0001193125-24-204316
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2024-08-21T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000119312524204316/0001193125-24-204316-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312524204316/d885039d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-204316
- JSON: https://secwatch.observer/filing/0001193125-24-204316.json
- Plain text: https://secwatch.observer/filing/0001193125-24-204316.txt

## Key facts
- Executive change
  Shailesh M. Kotwal departed as Vice Chair, Payment Services at US BANCORP DE.
  - Action: retire
  - Role: Vice Chair, Payment Services
  source text: Shailesh M. Kotwal, Vice Chair, Payment Services, has informed U.S. Bancorp of his intention to retire from the company in the first half of 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312524204316/0001193125-24-204316-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.