Minneapolis-based U.S. Bancorp announced several changes to its senior leadership team on Wednesday, including the promotion of John Stern to be its next chief financial officer.
U.S. Bancorp announces new CFO, other leadership changes
John Stern will become chief financial officer, succeeding Terry Dolan, who is taking on a new executive role.
April 12, 2023 at 2:41PM
Stern, 44, has worked at the company for 22 years and is currently the president of its global corporate trust and custody business. He was previously its corporate treasurer for nearly eight years. He will take on the new role Sept. 1 and will also become head of finance May 1.
He will replace and also report to Terry Dolan, 61, who is taking on a broader role as chief administration officer while still keeping some of his current responsibilities. Dolan has been the company's chief financial officer since 2016.
Dolan will succeed Kate Quinn, 58, who is retiring on June 30 along with Jim Kelligrew, 57, the company's vice chair of corporate and commercial banking.
"We have a strong succession plan in place for normal leadership changes such as these, and we will build on the foundations they have created to accelerate our future strategy," CEO Andy Cecere said in a statement.
In addition, Reba Dominski, chief corporate social responsibility officer, and Stephen Philipson, head of commercial product groups, will join the company's most senior leadership group, the managing committee, as senior executive vice presidents.
Gunjan Kedia, vice chair of wealth management and investment services, is also taking on an expanded leadership role.
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