---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-014216"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2025-01-28T23:59:59+00:00"
generated_at: "2026-05-27T08:39:27.006860+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-014216
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2025-01-28T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000119312525014216/0001193125-25-014216-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312525014216/d928449d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-014216
- JSON: https://secwatch.observer/filing/0001193125-25-014216.json
- Plain text: https://secwatch.observer/filing/0001193125-25-014216.txt

## Key facts
- Executive change
  Gunjan Kedia was elected as Director at US BANCORP DE.
  - Action: elected
  - Role: Director
  source text: Ms. Kedia was also elected to the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312525014216/0001193125-25-014216-index.htm
- Executive change
  Andrew Cecere changed role as Executive Chairman at US BANCORP DE.
  - Action: continue
  - Role: Executive Chairman
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312525014216/0001193125-25-014216-index.htm
- Executive change
  Gunjan Kedia was elected as President and Chief Executive Officer at US BANCORP DE.
  - Action: elected
  - Role: President and Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312525014216/0001193125-25-014216-index.htm

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