U.S. Bank announces updates to recent leadership changes
August 23 2023 - 11:00AM
Business Wire
Dolan, Stern to assume new titles; von
Gillern sets retirement date; Venkatachari becomes executive
officer
U.S. Bank today announced several updates to previously shared
leadership changes that will be effective Sept. 1.
“Our succession planning efforts have enabled us to move quickly
and prudently to ensure continuity of leadership and service as
senior executives have made personal and professional choices in
their careers,” said Andy Cecere, chairman, president and
CEO of U.S. Bank. “Today’s moves reflect confidence in our path
forward and will continue to ensure our strength and stability as
an organization as we lead into the future.”
Terrance Robert Dolan, currently vice chair and chief
financial officer, and John Stern, senior executive vice
president and head of Finance, will assume new titles effective
Sept. 1. Dolan will serve as vice chair and chief administration
officer overseeing the company’s combined Chief Administration
Office. Stern will become senior executive vice president and chief
financial officer. The company had indicated earlier this year that
these promotions were expected this fall, and both leaders have
been effectively prepared for their new roles. Dolan will continue
to report to Cecere, with Stern reporting to Dolan.
At the same time, Jeff von Gillern, vice chair of
Technology and Operations Services, will retire on Sept. 1. The
company previously announced his intention to retire last November,
and he has been gracious to stay on board to guide the company
through the systems integration related to its MUFG Union Bank
acquisition. Von Gillern will remain on hand as an advisor to the
CEO through the end of the year, but his remaining day-to-day
responsibilities will shift to Dilip Venkatachari effective
the first day of September. Venkatachari, senior executive vice
president and chief information and technology officer, will then
report directly to Cecere and serve as an executive officer of the
company.
About U.S. Bank
U.S. Bancorp, with approximately 77,000 employees and $681
billion in assets as of June 30, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate and Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. The company has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2022 World’s Most Ethical
Companies and Fortune’s most admired superregional bank. Learn more
at usbank.com/about.
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version on businesswire.com: https://www.businesswire.com/news/home/20230823770992/en/
Investors: George Andersen, Director of Investor Relations, U.S.
Bancorp Investor Relations 612.303.3620;
george.andersen@usbank.com
Media: Jeff Shelman, U.S. Bancorp Public Affairs and
Communications 612.303.9933; jeffrey.shelman@usbank.com
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