U.S. Bank has named Gunjan Kedia chief executive, effective April 15.  

Kedia will succeed CEO Andy Cecere, who will serve as executive chairman and remain on the bank’s board of directors, according to a release from the Minneapolis-based bank today. 

Kedia, who will be the $678 billion bank’s first woman CEO, was named president in 2024. She has been with U.S. Bank since 2016, according to the release. 

Kedia will take the helm as the bank continues to prioritize its modernization and innovation efforts. Cecere said, during the bank’s Q4 2024 earnings earlier this month, that the bank remains committed to being capital efficient, while it continues to invest in technology.  

Executive exodus

Executives are leaving leadership positions at elevated rates, according to executive search and leadership advisory firm Russell Reynolds’ third quarter Global CEO Turnover Index. 

This month, the following FI leaders announced their departures: 

• JPMorgan President and Chief Operating Officer Daniel Pinto will step down on June 30; and 

• Truist COO Beau Cummins resigned from his role Jan. 13.  

Register here for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.