Gunjan Kedia, the first female CEO of U.S. Bancorp, will transition to chair of the Board of Directors in April 2026, following the retirement of current executive chairman Andy Cecere.
Gunjan Kedia, an Indian American banker, is poised to become the chair of the Board of Directors at U.S. Bancorp, one of the nation’s leading superregional banks, in April 2026. Kedia, who made history as the first woman to serve as CEO of the Minneapolis-based bank, will assume her new role following the annual meeting of shareholders.
At 55 years old, Kedia currently holds the positions of chief executive officer and president at U.S. Bancorp, which employs approximately 70,000 individuals and boasts assets totaling $692 billion as of December 31, 2025. Andy Cecere, the current executive chairman, is set to retire from the Board at that time, while Roland Hernandez will continue to serve as the Board’s 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,” said Hernandez. “Most importantly, she understands the company’s culture and leads with a long-term perspective. The Board of Directors has tremendous confidence in her ability to execute and lead the Board and the company into a dynamic future.”
Kedia joined U.S. Bancorp in 2016 and was appointed CEO in April 2025. Prior to her role as CEO, she served as president and led the company’s Wealth, Corporate, Commercial, and Institutional Banking division.
With over 30 years of experience in the financial services sector, Kedia has held global executive positions at State Street Financial and BNY. Additionally, she has held leadership roles at McKinsey & Company and PwC, further solidifying her expertise in the industry.
Kedia earned her master’s degree in business administration with distinction from Carnegie Mellon University and holds a bachelor’s degree in engineering, also with distinction, from the Delhi School of Engineering. She is actively involved in various organizations and serves on the boards of directors for PBS, the American Red Cross, and Carnegie Mellon Business School.
Expressing her gratitude for the opportunity, Kedia stated, “U.S. Bancorp is a respected and admired franchise, and our company is poised for success for generations to come. I am grateful for the support of our exceptional Board of Directors in being appointed to this role, and I am honored to lead the Board and the company. Our team will join me in delivering differentiated client experiences, continuing our legacy of governance and stewardship, driving industry-leading performance, and creating value for the many shareholders who invest in us.”
U.S. Bancorp has garnered recognition for its commitment to digital innovation, community partnerships, and exceptional customer service, earning a spot on Fortune’s list of most admired superregional banks.
The transition to Kedia’s new role marks a significant milestone for U.S. Bancorp as it continues to navigate the evolving landscape of the banking industry.
According to The American Bazaar, Kedia’s leadership is expected to further enhance the bank’s reputation and performance in the coming years.