Summary
U.S. Bancorp announced a change in its Board of Directors. Alan B. Colberg has been elected as a new director, effective immediately, and will serve on the Audit and Public Responsibility Committees. His compensation will align with the company's standard non-employee director arrangements. Additionally, Olivia F. Kirtley will retire from the Board of Directors at the upcoming 2023 Annual Meeting of Shareholders. Ms. Kirtley's retirement is for personal reasons and is not a result of any disagreements with the company. This transition brings new expertise to the board while ensuring a smooth handover from a long-serving director.
Key Highlights
- 1Alan B. Colberg elected as a new director, effective immediately.
- 2Mr. Colberg will serve on the Audit and Public Responsibility Committees.
- 3Director compensation for Mr. Colberg will follow standard non-employee director policies.
- 4Olivia F. Kirtley to retire from the Board of Directors at the 2023 Annual Meeting of Shareholders.
- 5Ms. Kirtley's retirement is voluntary and due to personal reasons, not any disagreements with the company.
- 6Press release announcing Mr. Colberg's election is attached as an exhibit.