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Board of Directors

U.S. Bancorp's business is managed under the direction of the Board of Directors. We currently have 13 directors serving on our Board and all but one of them are independent.

 

Shareholders, customers and members of the community are welcome to contact U.S. Bancorp’s directors with their questions or concerns about the Company.

You can communicate with our Board of Directors by sending a letter addressed to the Board of Directors, non-management directors or specified individual directors to:
The Office of the Corporate Secretary
U.S. Bancorp
BC-MN-H21O
800 Nicollet Mall
Minneapolis, MN 55402-4302
The letters will be collected at the Corporate Secretary’s office and delivered to the independent lead director, or to a specified director if so addressed. In accordance with the Audit Committee’s policy on investigation of complaints relating to accounting matters, letters relating to accounting matters will be delivered to our Chief Risk Officer for handling in accordance with that policy.

 

Members of the Board of Directors Bios
Biography PhotoRichard K. Davis

Director since 2006

Business Experience: Mr. Davis, 58, is Chairman and Chief Executive Officer of U.S. Bancorp. He has served as Chairman since December 2007 and as Chief Executive Officer since December 2006. He also served as President from October 2004 until January 2016 and was the Chief Operating Officer of U.S. Bancorp from October 2004 until December 2006. Mr. Davis has held management positions with our company since joining Star Banc Corporation, one of our predecessors, as Executive Vice President in 1993.
Other Directorships:

  • Xcel Energy Inc. since 2006 (Lead Director; Finance Committee)
  • The Dow Chemical Company since 2015 (Audit Committee)

Skills and Qualifications:

  • Chief Executive Experience: As Chairman and CEO of U.S. Bancorp, Mr. Davis brings to all Board discussions and deliberations deep knowledge of the company and its business.
  • Financial Services Industry Expertise: Mr. Davis brings to the Board extensive leadership experience and industry knowledge gained as Chairman of the Financial Services Roundtable, as Chairman of The Clearing House, and as representative for the Ninth District of the Federal Reserve, where he served on its Financial Advisory Committee.
  • Regulated Industry Expertise: Mr. Davis’s service as Lead Director of the Xcel Energy board of directors broadens his experience in overseeing management in an industry subject to extensive regulation.
  • Risk Management: Mr. Davis brings valuable risk management expertise to our Board through his experience leading a large financial services company through the current risk environment, as well as through his leadership of the Board of Directors of Xcel Energy, a company in a critical infrastructure industry.
Biography PhotoDouglas M. Baker, Jr.

Director since 2008 

Business Experience:  Mr. Baker, 57, is the Chairman and Chief Executive Officer of Ecolab Inc., a provider of water and hygiene services and technologies for the food, hospitality, industrial and energy markets.  He has served as Chairman since May 2006 and Chief Executive Officer since July 2004.  He served as President of Ecolab from 2002 until 2011.  He joined Ecolab in 1989 and held various leadership positions within the company before being named President and Chief Operating Officer in 2002. 
Other Directorships

  • Ecolab Inc. since 2004 (Chairman; Safety, Health and Environment Committee)
  • Target Corporation since 2013 (Lead Director; Human Resources and Compensation and Nominating and Governance Committees)

Skills and Qualifications:

  • Chief Executive Experience:   Mr. Baker provides the valuable perspective gained from leading a company through the current economic and corporate governance environment as the CEO of an S&P 500 industrial company with global operations.
  • Corporate Governance:  Mr. Baker’s experience leading public company boards, including as Chairman of Ecolab and Lead Director of Target, provides valuable corporate governance expertise to our Board.
Biography PhotoWarner L. Baxter

Director since 2015

Business Experience:Mr. Baxter, 54, is the Chairman, President and Chief Executive Officer of Ameren Corporation, a regulated electric and gas utility company serving customers in Missouri and Illinois. He has served in these positions since 2014. Mr. Baxter served as Chairman, President and Chief Executive Officer of Ameren Missouri from 2009 to 2014 and as Executive Vice President and Chief Financial Officer of Ameren Corporation from 2003 to 2009. In addition, he also served as President and Chief Executive Officer of Ameren Services from 2007 to 2009.
Other Directorships:

  • Ameren Corporation since 2014 (Chairman)
  • UMB Financial Corporation from 2013 to 2015

Skills and Qualifications:

  • Chief Executive Experience: Mr. Baxter’s experience as a current CEO of a Fortune 500 company provides valuable leadership insight to the Board.
  • Risk Management: As the current President and CEO of a company in a critical infrastructure industry, Mr. Baxter brings valuable risk management expertise to our Board of Directors.
  • Regulated Industry Expertise: As the current President and CEO of a company in a highly regulated industry, Mr. Baxter provides valuable perspective on regulatory and business challenges facing our company.
  • Financial Reporting and Accounting: Through his past experience as the Chief Financial Officer and Controller of a large publicly-traded company, Mr. Baxter brings extensive financial reporting and accounting expertise to our Board.
Biography PhotoMarc N. Casper

Director since 2016

Business Experience: Mr. Casper, 47, is the President and Chief Executive Officer of Thermo Fisher Scientific Inc., a leader in life sciences and healthcare technologies. He has served as President and Chief Executive Officer since 2009. He served as Executive Vice President and Chief Operating Officer from 2008 to 2009 and Executive Vice President of Thermo Fisher and President of its Analytical Technologies business from 2006 to 2009. He joined Thermo Electron Corporation, a predecessor to Thermo Fisher Scientific, in 2001 and held various leadership positions within that company before being named Executive Vice President of Thermo Fisher in 2006.
Other Directorships:

  • Thermo Fisher Scientific Inc. since 2009
  • Zimmer Holdings, Inc. from 2009 to 2013

Skills and Qualifications:

  • Chief Executive Experience: Mr. Casper’s experience as the CEO of a large life sciences and healthcare technologies company gives him broad and valuable leadership experience.
  • Regulated Industry Expertise: Mr. Casper’s experience as the leader of a company in a heavily regulated industry gives him valuable insight on regulatory challenges.
Biography PhotoArthur D. Collins, Jr.*

Director since 1996

Business Experience: Mr. Collins, 68, is the retired Chairman and Chief Executive Officer of Medtronic, Inc., a leading medical device and technology company. Mr. Collins served as Chairman of Medtronic from 2002 until August 2008 and Chief Executive Officer from 2002 until August 2007. Mr. Collins served as President of Medtronic from 1996 to 2002 and also as Chief Operating Officer from 1994 to 2002. Since April 2009, Mr. Collins has acted as a senior advisor for Oak Hill Capital Partners, which manages a private equity portfolio of over $8 billion of private equity capital and over $20 billion of investment capital.
Other Directorships:

  • Cargill, Incorporated since 2000 (Human Resources Committee Chair; Governance, Audit and Executive Committees)
  • The Boeing Company since 2007 (Compensation Committee Chair; Governance, Organization and Nominating Committee)
  • Alcoa Inc. since 2010 (Audit and Compensation and Benefits Committees)

Skills and Qualifications:

  • Chief Executive Experience: Mr. Collins’s experience as CEO of Medtronic gives him a broad perspective on a variety of complex business and financial issues that is valuable in his service on our Board.
  • Corporate Governance: Mr. Collins’s experience on the boards of several large public companies has given him corporate governance expertise that is particularly valuable in his role as Lead Director of our Board.
  • Regulated Industry Expertise: Mr. Collins gained extensive regulated industry expertise through his service as Chairman and CEO of a medical device and technology company.
Biography PhotoKimberly J.  Harris

Director since 2014

Business Experience:Ms. Harris, 51, is the President and Chief Executive Officer of Puget Energy, Inc., an energy services holding company, and its subsidiary Puget Sound Energy, Inc., a utility company providing electric and natural gas service in the northwest United States. She has served in these positions since March 2011. Ms. Harris served as President of Puget Energy and Puget Sound Energy from July 2010 through February 2011 and as Executive Vice President and Chief Resource Officer from May 2007 until July 2010. Ms. Harris served as Senior Vice President Regulatory Policy and Energy Efficiency of these companies from 2005 until May 2007.

Other Directorships:

  • Puget Energy, Inc. and Puget Sound Energy, Inc. since 2011

Skills and Qualifications:

  • Chief Executive Experience: Ms. Harris’s experience as a current CEO provides valuable leadership perspective to our Board of Directors gained by leading a large company through the current economic and regulatory environment.
  • Risk Management: As the current President and CEO of a company in a critical infrastructure industry, Ms. Harris brings valuable risk management experience to our Board of Directors.
  • Regulated Industry Expertise: Ms. Harris’s experience as the leader of a company in a heavily regulated industry gives her valuable expertise in managing a complex business in the context of an extensive regulatory regime.
Biography PhotoRoland  A.  Hernandez

Director since 2012

Business Experience: Mr. Hernandez, 58, is the Founding Principal and Chief Executive Officer of Hernandez Media Ventures, a privately held company engaged in the acquisition and management of media assets. He has served in this capacity since January 2001. Mr. Hernandez served as Chairman of Telemundo Group, Inc., a Spanish-language television and entertainment company, from 1998 to 2000 and as President and Chief Executive Officer from 1995 to 2000.

Other Directorships:

  • MGM Resorts International since 2002 (Lead Director; Audit Committee Chair; Corporate and Social Responsibility Committee)
  • Vail Resorts, Inc. since 2002 (Lead Director; Nominating and Governance Committee Chair; Executive and Audit Committees)
  • Belmond Ltd. (formerly Orient Express Hotels Ltd.) since 2013 (Chairman)
  • Sony Corporation from 2008 to 2013
  • The Ryland Group, Inc. from 2001 to 2012
  • Lehman Brothers Holdings, Inc. from 2005 to 2012

Skills and Qualifications:

  • Chief Executive Experience: As the Founding Principal and CEO of Hernandez Media Ventures and the former President, CEO and Chairman of a television and entertainment company, Mr. Hernandez has gained business expertise that is particularly relevant to a major consumer bank such as U.S. Bank.
  • Financial Reporting and Accounting: With his extensive past and current experience on the audit committees of the boards of four public companies, Mr. Hernandez brings broad financial reporting and accounting expertise to our Board.
  • Corporate Governance: As the Chairman or Lead Director of three public companies, Mr. Hernandez brings to our Board significant expertise in current corporate governance issues and practices.
Biography PhotoDoreen Woo Ho

Director since 2012

Business Experience:  Ms. Woo Ho, 68, is a Commissioner of the San Francisco Port Commission, the governing board responsible for the San Francisco, California, waterfront adjacent to San Francisco Bay.  She has served on the Port Commission since May 2011 and served as President from 2012 to 2014.  Ms. Woo Ho served as President and Chief Executive Officer of United Commercial Bank, a California commercial bank, from September 2009 to November 2009.  She served as President of Community Banking at United Commercial from January 2009 to September 2009.  Ms. Woo Ho served as Executive Vice President responsible for Enterprise Marketing, Student Loans and Corporate Trust, at Wells Fargo & Company, a diversified financial services company, in 2008.  She served as President of the Consumer Credit Group of Wells Fargo from 1998 to 2007.  Ms. Woo Ho was also a member of the Wells Fargo Management Committee from 1999 to 2008. 

Skills and Qualifications:

  • Financial Services Industry Expertise:  Ms. Woo Ho’s over 35 years of commercial and consumer banking experience brings valuable industry experience and knowledge to our Board.
  • Risk Management:  Through her experience as a senior leader in the banking industry, Ms. Woo Ho brings experience identifying, assessing and managing risk exposures of large, complex financial firms.
Biography PhotoOlivia F. Kirtley

Director since 2006

Business Experience: Ms. Kirtley, 65, a Certified Public Accountant and Chartered Global Management Accountant, has served as the President of the International Federation of Accountants (IFAC), the global organization for the accountancy profession which facilitates the establishment of international auditing, ethics and education standards, since November 2014. She served as Deputy President of IFAC from 2012 to 2014. Ms. Kirtley has also served as a business consultant on strategic, risk and corporate governance issues since 2000. Prior to 2000, she served as a senior manager at a predecessor to auditing firm Ernst & Young LLP, and as Treasurer, Vice President and Chief Financial Officer at Vermont American Corporation.

Other Directorships:

  • Res-Care, Inc. since 1998 (Audit Committee Chair; Governance & Nominating Committee)
  • Papa Johns International, Inc.since 2003 (Lead Director; Audit Committee Chair; Compensation Committee)

Skills and Qualifications:

  • Financial Reporting and Accounting: Ms. Kirtley’s expertise in her field has been recognized in her service as President of IFAC, as well as her past service as Chair of the American Institute of Certified Public Accountants (AICPA) and Chair of the AICPA Board of Examiners.
  • Risk Management: Ms. Kirtley gained extensive audit, financial reporting, and risk management experience as the Chief Financial Officer of an international company and as a Certified Public Accountant at a large international accounting firm.
  • Corporate Governance: Ms. Kirtley brings to our Board a deep understanding of a wide range of current governance issues gained by her work as a corporate governance consultant and a faculty member of The Conference Board Directors’ Institute.
Biography PhotoKaren S. Lynch

Director since 2015

Business Experience: Ms. Lynch, 53, is the President of Aetna Inc., a diversified health care benefits company. She has served as President since 2014. She served as Executive Vice President of Aetna’s Local and Regional business from 2013 to 2014 and Executive Vice President of Aetna’s Specialty Products business from 2012 to 2013. Ms. Lynch served as President of Magellan Health Services Inc., a health care management company, from 2009 to 2012. Prior to joining Magellan Health, she served in various leadership roles at Cigna Corporation, a global health insurance service company, from 1999 to 2009.

Skills and Qualifications:

  • Financial Services Industry Expertise: Ms. Lynch’s over 24 years of insurance industry experience provides her with valuable financial services industry expertise.
  • Risk Management: Ms. Lynch contributes valuable risk management expertise in the financial services industry through her experience leading a large health care benefits company.
  • Financial Reporting and Accounting: Ms. Lynch’s past experience as a CPA and public company auditor provides valuable financial reporting and accounting expertise to our Board.
Biography PhotoDavid B. O'Maley

Director since 1995

Business Experience: Mr. O’Maley, 69, is the retired Chairman, President and Chief Executive Officer of Ohio National Mutual Holdings, Inc. and its subsidiary Ohio National Financial Services, Inc., an intermediate insurance holding company that markets insurance and financial products through its affiliates, including The Ohio National Life Insurance Company. Mr. O’Maley served as Executive Chairman of these companies from November 2010 to May 2012 after serving as Chairman, President and Chief Executive Officer of Ohio National Mutual Holdings and Ohio National Financial Services from 1994 until November 2010. He joined Ohio National in 1992.

Skills and Qualifications:

  • Chief Executive Experience: Mr. O’Maley’s experience as the CEO of a large, complex company provides leadership and management expertise to our Board.
  • Financial Services Industry Expertise: As the retired Chairman, President and CEO of a large financial services company, Mr. O’Maley brings to our Board discussions expertise in managing regulatory and business challenges facing financial services companies.
  • Risk Management: Mr. O’Maley brings valuable risk management expertise to our Board through his experience leading a large financial services company.
Biography PhotoO’dell M. Owens, M.D., M.P.H.

Director since 1991

Business Experience: Dr. Owens, 68, is the Medical Director for the Cincinnati Health Department and has served in this role since November 2015. He previously served as the President of Cincinnati State Technical and Community College, an institution of higher education, from September 2010 until September 2015. Dr. Owens has been a member of the Federal Reserve Bank of Cleveland’s Cincinnati Business Advisory Council since 2012. He has also been providing services as an independent consultant in medicine, business, education and work-site employee benefits since 2001 and served as the President and Chairman of the Board for Project GRAD (Graduation Really Achieves Dreams), a national non-profit organization formed to improve inner-city education, from 2001 until 2015. From 2004 to 2010, Dr. Owens also served as Coroner of Hamilton County, Ohio.

Skills and Qualifications:

  • Community Leadership: Through his experience in public service leadership roles and as the President and Chairman of Project GRAD, Dr. Owens brings a unique perspective to our Board by combining business expertise and leadership with a strong focus on community service and public policy.
Biography PhotoCraig D. Schnuck

Director since 2002

Business Experience: Mr. Schnuck, 67, is the former Chairman and Chief Executive Officer of Schnuck Markets, Inc., a regional supermarket chain. He was elected President of Schnuck Markets in 1984 and served as Chief Executive Officer from 1989 until January 2006. He also served as Chairman from January 1991 until December 2006. Mr. Schnuck continued to be active in the Schnuck Markets business as Chair of its Executive Committee from 2007 until 2014 and was named Chairman Emeritus in 2014.

Skills and Qualifications:

  • Chief Executive Experience: Mr. Schnuck brings to our company substantial leadership experience gained as the long-serving Chairman, CEO and Chair of the Executive Committee of a large, regional food retailer.
  • Consumer Business Expertise: In addition to leading a large consumer goods business, Mr. Schnuck also served for nine years on the board of governors of the Uniform Code Council, the agency that oversees his industry’s most fundamental technologies, serving as Chairman for two terms. This work has given him additional insight into technological innovation in retail business, which is an important focus in various U.S. Bancorp business lines.
Biography PhotoScott W. Wine

Director since 2014

Business Experience: Mr. Wine, 48, is the Chairman and Chief Executive Officer of Polaris Industries Inc., a worldwide manufacturer and marketer of innovative high-performance motorized products. He has served as Chairman since 2013, and Chief Executive Officer since 2008. Mr. Wine served as President of Fire Safety Americas, a division of United Technologies Corporation, from 2007 to 2008. Prior to that time, Mr. Wine held various senior leadership positions at Danaher Corporation and Honeywell International, Inc. from 1996 to 2007.

Other Directorships:

  • Polaris Industries Inc. since 2008 (Technology Committee)
  • Terex Corporation since 2011 (Compensation and Governance and Nominating Committees)

Skills and Qualifications:

  • Chief Executive Experience: Mr. Wine’s experience as the Chairman and CEO of a large international manufacturing company gives him broad and valuable experience in a business focused on growing operations within domestic and overseas markets.
  • Consumer Business Expertise: Mr. Wine contributes to the Board a current perspective on retail business gained from his leadership of a consumer-focused company.

Last updated May 2015



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