U.S. Bancorp in Minneapolis is close to completing its management succession.
The $692 billion-asset company said in a press release that Gunjan Kedia will become its chairman at April’s annual meeting. Kedia, who became CEO in April 2025, will succeed Andy Cecere, who is retiring from the board.
Roland Hernandez will remain lead independent director.
“Gunjan is a remarkable leader who is well-respected by the Board, her team and our stakeholders for her strategic acumen, client focus and ability to drive business performance,” Hernandez said in the release. “Most importantly, she understands the company’s culture and leads with a long-term perspective.”