U.S. Bancorp
Gunjan Kedia Appointed as CEO of U.S. Bancorp
Summary
On April 15, 2025, U.S. Bancorp announced the appointment of Gunjan Kedia as its new President and Chief Executive Officer, effective the same day. The company's Board of Directors has set her base salary at $1,200,000 and her target annual cash incentive at 275% of her base salary. Additionally, Kedia received a long-term incentive award in the form of performance-based restricted stock units valued at $1,500,000. Andrew Cecere, the former Chairman and CEO, will serve as Executive Chairman, with a base salary of $1,400,000. The Board also approved an amendment to the U.S. Bank Non-Qualified Retirement Plan, freezing Cecere's supplemental benefit as of April 15, 2025.
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About U.S. Bancorp
U.S. Bancorp provides a wide array of financial services through its primary subsidiary, U.S. Bank, which is one of the largest banks in the United States. It offers services such as commercial banking, consumer banking, wealth management and investment services, and payment services, catering to individuals, businesses, governmental entities, and other financial institutions. The company is renowned for its comprehensive suite of financial products, which includes credit cards, mortgage and loan products, as well as personal and corporate checking and savings accounts. Serving a diverse clientele across various sectors, U.S. Bancorp plays a significant role in the financial market by facilitating capital flow and offering critical financial support. Based in Minneapolis, the bank's extensive network and technological integration enable it to deliver efficient banking solutions across the nation, reflecting its commitment to customer service and operational excellence.
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