U.S. Bancorp announced that Andy Cecere, President and Chief Executive Officer (CEO), has been named Chairman of the Board of Directors, effective at the Annual Meeting of Shareholders in April 2018. Richard Davis, Executive Chairman, will retire from the Board of Directors at that time. David O'Maley will continue in his role as the Board's Lead Independent. Prior to that, he served as Vice Chairman and Chief Financial Officer, and Vice Chairman of Wealth Management and Securities Services.