U.S. Bank announced that Terrance Robert Dolan, currently vice chair and CFO, and John Stern, currently senior executive vice president and head of finance, will assume new roles on Sept. 1, with Dolan becoming vice chair and chief administration officer to oversee the company’s combined chief administration office, while Stern will become senior executive vice president and CFO.
The company indicated earlier this year that these promotions were expected this fall. Dolan will continue to report to Andy Cecere, chairman president and CEO of U.S. Bank, with Stern reporting to Dolan.
In addition, Jeff von Gillern, vice chair of technology and operations services at U.S. Bank, will retire on Sept. 1. The company previously announced von Gillern’s intention to retire last November, and he has stayed on board since 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 on Sept. 1. Venkatachari, who is the company’s 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.
“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,” Cecere said. “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.”
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!