U.S. Bancorp announced that Andy Cecere, currently president and chief operating officer, will succeed Richard Davis as chief executive officer on April 18, 2017.Article continues below

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Mr. Davis, currently Chairman and CEO, will continue as Executive Chairman following this succession.

Mr. Davis has been CEO since December 2006 and Chairman since December 2007.

Mr. Cecere has also been elected to the Board of Directors of U.S. Bancorp. He was named COO in January 2015 and President in January 2016.

Mr. Cecere has been with U.S. Bank since 1985. He has served as President and COO since January 2016. He served as Vice Chairman and Chief Financial Officer, and Vice Chairman of Wealth Management and Securities Services.

Mr. Cecere received his MBA from the Carlson School of Business at the University of Minnesota and his undergraduate degree from the University of St. Thomas in St. Paul, Minn.

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