U.S. Bancorp, parent company of U.S. Bank, said Tuesday that President Gunjan Kedia will become the company’s chief executive officer, replacing Andy Cecere, who will remain chairman.
Gunjan Kedia
Kedia, also elected to the Minneapolis-based company’s board, will become CEO on April 15, at the conclusion of U.S. Bancorp’s annual shareholders meeting, according to a statement.
Kedia, 54, has been with U.S. Bancorp since 2016, overseeing the company’s revenue lines during her time as president, and has worked in financial services for almost three decades, including roles at State Street Corp. and Bank of New York Mellon Corp.
U.S. Bancorp promoted Kedia to president last year, raising the prospect that she might be a candidate to one day be CEO. The president role was previously held by Cecere, 64, who has spent almost four decades with U.S. Bancorp, serving as chairman since 2018 after assuming the CEO role in 2017.
“We are inspired by Gunjan’s vision for the company, and we are confident in her ability to guide U.S. Bancorp into a vibrant and engaging future,” Roland Hernandez, the company’s lead independent director, said in the statement.
U.S. Bank is Minnesota’s largest bank by deposit market share, according to the FDIC, as of June 2024, reporting total deposits of $114 billion in Minnesota and $413 billion nationwide.
Related Articles
Some Trump voters are skeptical of his opening moves to embrace fellow billionaires
US consumer confidence dips again to start the year, according to business group
Tyler Cowen: How Trump’s protectionism could increase free trade
Fast food is a staple of American culture, but some of its workers struggle to survive
Real World Economics: Understanding inflation will lead to trust in economic policies
Leave a Reply