US Bancorp Appoints Andrew Cecere as CEO
Ticker: USB-PQ · Form: 8-K · Filed: Jun 27, 2024 · CIK: 36104
Sentiment: neutral
Topics: leadership-change, executive-appointment, board-of-directors
Related Tickers: USB
TL;DR
US Bancorp CEO change: Andrew Cecere takes over, former CEO stays as Vice Chairman until year-end.
AI Summary
US Bancorp (USB) announced on June 26, 2024, the appointment of Andrew Cecere as Chief Executive Officer, effective immediately. Cecere, who previously served as President and Chief Financial Officer, will also join the Board of Directors. The company also announced the departure of its previous CEO, Andrew Cecere, who will remain with the company as Vice Chairman until December 31, 2024.
Why It Matters
This leadership change at a major financial institution like US Bancorp could signal shifts in strategic direction and operational focus, impacting its market position and investor confidence.
Risk Assessment
Risk Level: medium — Leadership changes at large financial institutions can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- US BancORP \DE\ (company) — Filer
- Andrew Cecere (person) — Appointed CEO and joined Board of Directors
- Andrew Cecere (person) — Departing CEO, remaining as Vice Chairman
- 0001193125-24-170036 (document_id) — Accession Number
- 20240626 (date) — Effective date of changes
FAQ
Who has been appointed as the new Chief Executive Officer of US Bancorp?
Andrew Cecere has been appointed as the new Chief Executive Officer of US Bancorp.
When is the appointment of Andrew Cecere as CEO effective?
The appointment of Andrew Cecere as CEO is effective immediately as of June 26, 2024.
What other roles will Andrew Cecere assume?
Andrew Cecere will also join the Board of Directors of US Bancorp.
What is the role of the previous CEO, Andrew Cecere?
The previous CEO, Andrew Cecere, will remain with the company as Vice Chairman until December 31, 2024.
What is the filing date of this 8-K report?
This 8-K report was filed on June 27, 2024.
Filing Stats: 663 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-06-27 11:15:05
Key Financial Figures
- $1.00 — ve Perpetual Preferred Stock, par value $1.00) USB PrA New York Stock Exchange
Filing Documents
- d839889d8k.htm (8-K) — 37KB
- d839889dex991.htm (EX-99.1) — 7KB
- g839889g0626222001412.jpg (GRAPHIC) — 4KB
- g839889g0626222001607.jpg (GRAPHIC) — 5KB
- g839889g0626222001773.jpg (GRAPHIC) — 3KB
- 0001193125-24-170036.txt ( ) — 259KB
- usb-20240626.xsd (EX-101.SCH) — 4KB
- usb-20240626_def.xml (EX-101.DEF) — 16KB
- usb-20240626_lab.xml (EX-101.LAB) — 27KB
- usb-20240626_pre.xml (EX-101.PRE) — 17KB
- d839889d8k_htm.xml (XML) — 14KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release dated June 27, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. U.S. BANCORP By: /s/ James L. Chosy James L. Chosy Senior Executive Vice President and General Counsel Date: June 27, 2024 3