Gunjan Kedia to become CEO of U.S. Bancorp on April 15, 2025; Cecere to Executive Chairman

US BANCORP DE

President Gunjan Kedia elected CEO of U.S. Bancorp and U.S. Bank, effective April 15, 2025.
Current Chairman/CEO Andy Cecere to serve as Executive Chairman after transition.
Kedia appointed to the Board effective immediately; will serve on Executive Committee.
She receives $10M long-term incentive award (60% performance-based RSUs, 40% RSUs) granted Feb 27, 2025.
Base salary and target annual cash incentive for Kedia not yet determined.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Gunjan Kedia

Director

USB · US BANCORP DE

Effective: 2025-01-28
Filed: January 28, 2025, 6:59 PM ET

Ms. Kedia was also elected to the Board, effective immediately.

Role change

Andrew Cecere

Executive Chairman

USB · US BANCORP DE

Effective: 2025-04-15
Successor: Gunjan Kedia
Filed: January 28, 2025, 6:59 PM ET

Andrew Cecere, who is currently serving as Chairman and Chief Executive Officer of U.S. Bancorp and U.S. Bank, will continue his service on the Board as Executive Chairman, effective April 15, 2025.

Appointed

Gunjan Kedia

President and Chief Executive Officer

USB · US BANCORP DE

Effective: 2025-04-15
Filed: January 28, 2025, 6:59 PM ET

the Board of Directors of U.S. Bancorp (the “Board”) elected Gunjan Kedia, 54, to the position of President and Chief Executive Officer of U.S. Bancorp and U.S. Bank National Association (“U.S. Bank”), its principal banking subsidiary, effective April 15, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Gunjan Kedia was elected as Director at US BANCORP DE.

Action: elected
Role: Director

Exact text from the filing

Ms. Kedia was also elected to the Board, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Andrew Cecere changed role as Executive Chairman at US BANCORP DE.

Action: continue
Role: Executive Chairman

Exact text from the filing

Andrew Cecere, who is currently serving as Chairman and Chief Executive Officer of U.S. Bancorp and U.S. Bank, will continue his service on the Board as Executive Chairman, effective April 15, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gunjan Kedia was elected as President and Chief Executive Officer at US BANCORP DE.

Action: elected
Role: President and Chief Executive Officer

Exact text from the filing

the Board of Directors of U.S. Bancorp (the “Board”) elected Gunjan Kedia, 54, to the position of President and Chief Executive Officer of U.S. Bancorp and U.S. Bank National Association (“U.S. Bank”), its principal banking subsidiary, effective April 15, 2025.

View on SEC.gov

US BANCORP DE filing history →

Source: SEC EDGAR

accession 0001193125-25-014216

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