U.S. Bancorp has elevated its chief diversity officer, Greg Cunningham, to the role of senior executive vice president and tasked him with leading the effort to build a more racially diverse workforce.
Cunningham will now report directly to Chairman and CEO Andy Cecere and his “personal mission is to make diversity and inclusion a business imperative,” the company said in an announcement Wednesday.
The $547 billion-asset company has found itself at the epicenter of protests over racial inequality and police brutality following the death of George Floyd in its hometown of Minneapolis.
In June, the company pledged $116 million in investments across its markets to address economic disparity and made it a priority to hire and promote more minorities.
“This has been an extraordinary year that has challenged us in unexpected ways and helped us refocus our efforts on the most critical priorities for our company now and into the future,” Cecere said in a statement Wednesday. “We see more clearly than ever how necessary it is for us to emphasize our commitment to our people, the importance of diversity, equity and inclusion, and our dedication to truly transform our business for the future.
Cunningham said in a June 3 blog post that there was a “need to have intentional focus on advancing black leaders” and “to develop meaningful relationships with black-owned businesses.”
“Across industries, far too often black professionals are the least represented in senior executive ranks of Corporate America,” Cunningham, who is Black, said in the post. “So many organizations hire for diversity but manage to assimilation, and that is a fundamental problem.”
U.S. Bank also said Wednesday that it has hired Elcio Barcelos as new senior executive vice president and chief human resources officer. Barcelos, previously chief people and places officer at Fannie Mae, will also report to Cecere.
Also, Dominic Venturo has been promoted to senior executive vice president and chief digital officer, U.S. Bank said. He had been the company’s chief innovation officer.
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