U.S. Bancorp appoints Gunjan Kedia as chairman of the Board

By Chris Stiles • Wednesday, January 28 11:46 • Permanent Link

U.S. Bancorp (NYSE: USB) has announced the appointment of Gunjan Kedia, the current chief executive officer and president, as the chairman of its Board of Directors, effective immediately following the annual meeting of shareholders in April 2026. Andy Cecere, the current executive chairman, will retire from the Board at that time, while Roland Hernandez will continue in his role as the Board’s lead independent director.

Cecere’s retirement marks the end of a career spanning over 40 years in financial services. Under his leadership, the company made significant progress in various areas, including digital capabilities, building scale, and focusing on prudent financial and risk management.

Kedia, who joined U.S. Bancorp in 2016 and was named CEO in April 2025, brings with her more than 30 years of financial services experience. She has been lauded for her strategic acumen, client focus, and ability to drive business performance. In addition to her executive roles at U.S. Bancorp, Kedia has held leadership positions at State Street Financial, BNY, McKinsey and Company, and PwC, and sits on the board of directors for PBS, American Red Cross, and Carnegie Mellon Business School.

U.S. Bancorp, with approximately 70,000 employees and $692 billion in assets as of December 31, 2025, serves millions of customers globally through a mix of businesses, including consumer banking, business banking, commercial banking, institutional banking, payments, and wealth management. The company has been recognized for its approach to digital innovation, community partnerships, and customer service, including being named one of Fortune’s most admired superregional banks.

As Kedia assumes the role of chairman, she aims to lead the company forward by leveraging the foundation set by Cecere. She emphasizes the importance of delivering differentiated client experiences, continuing the legacy of governance and stewardship, driving industry-leading performance, and creating value for shareholders.

Following these announcements, the company's shares moved 0.83%, and are now trading at a price of $54.40. Check out the company's full 8-K submission here.

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