Indian American banker Gunjan Kedia, the first woman chief executive of U.S. Bancorp is set to become chairman of the Board of Directors of one of Fortune’s most admired superregional banks in April.
Kedia, 55, currently chief executive officer and president of the Minneapolis-based bank with approximately 70,000 employees and $692 billion in assets as of Dec. 31, 2025, will assume her new title after the annual meeting of shareholders in April 2026.
Andy Cecere, the current executive chairman, will retire from the Board at that time; Roland Hernandez will continue in his role as the Board’s lead independent director, the company announced.
“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. Most importantly, she understands the company’s culture and leads with a long-term perspective,” Hernandez said. “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 named CEO in April 2025, after serving as president and previously leading the company’s Wealth, Corporate, Commercial and Institutional Banking business.
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She has more than 30 years of financial services experience, working in global executive positions at State Street Financial and BNY, as well has holding leadership roles at McKinsey and Company and PwC.
She holds a master’s degree in business administration with distinction from Carnegie Mellon University and a bachelor’s degree in engineering, also with distinction, from the Delhi School of Engineering. She sits on the board of directors for PBS, American Red Cross and Carnegie Mellon Business School.
“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,” said Kedia. “ 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 been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of Fortune’s most admired superregional banks.