U.S. Bancorp Announces Leadership Changes in Its Operations Function

Souheil Badran to retire from the company in April

U.S. Bancorp (NYSE: USB), parent company of U.S. Bank, announced today that Souheil Badran, its senior executive vice president and chief operations officer, will retire from the bank this spring.

"Souheil has led our operations function with distinction and a keen eye toward elevating our client experience with our contact centers and driving productivity and efficiency in service of our shareholders," said Gunjan Kedia, U.S. Bancorp chief executive officer. "I have appreciated his insights, advocacy and friendship, and we will build on the foundation he has helped set for the operations team."

Badran joined the organization in late 2022, bringing diverse experience across the payments, software and wealth management industries. He provided an active and influential voice during his tenure at U.S. Bancorp, shaping the current strategy of the company's operations organization and leading efforts to bring automation, artificial intelligence and efficiency to its contact centers and related functions.

The company has a robust succession planning program in place and will activate and implement that as Badran prepares for his retirement. He intends to assist with the leadership transition to accommodate a disciplined process.

"It has been an honor and a privilege serving on the leadership team at U.S. Bancorp, and I am confident not only in the future of the organization, but in the leaders who will guide the company into the future," Badran said.

About U.S. Bank

U.S. Bancorp, with approximately 70,000 employees and $692 billion in assets as of December 31, 2025, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of Fortune's most admired superregional banks. Learn more at usbank.com/about .

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Investors:
Angie Jeyaraj, deputy director of investor relations, U.S. Bancorp Investor Relations
angie.jeyaraj@usbank.com

Media:
Jeff Shelman, senior vice president and head of external enterprise communications, U.S. Bank Public Affairs and Communications
jeffrey.shelman@usbank.com