U.S. Bancorp announced on Tuesday that President Gunjan Kedia will become its chief executive, effective April 15, becoming the first woman in the bank's history to take up the role. Kedia joins only a handful of female CEOs in the finance sector,

Kedia, also elected to the Minneapolis-based company’s board, will become CEO on April 15, at the conclusion of U.S. Bancorp’s annual shareholders meeting, according to a statement.

U.S. Bancorp said President Gunjan Kedia will become chief executive officer, replacing Andy Cecere, who will remain the lender’s chairman.