Jerry A. Grundhofer

Overview

JERRY A. GRUNDHOFER, Age 62, director since 1993. Mr. Grundhofer is the Chairman of U.S. Bancorp. He has served as Chairman of U.S. Bancorp since December 2002. Mr. Grundhofer also served as President and Chief Executive Officer of U.S. Bancorp from the time of the merger of Firstar Corporation and U.S. Bancorp in February 2001 until October 2004 and December 2006, respectively. From 1993 until the merger, he served as Chairman, President and Chief Executive Officer of U.S. Bancorp predecessors Firstar Corporation and Star Banc Corporation. Mr. Grundhofer also serves as a director of Ecolab, Inc. and The Midland Company, Inc.On December 11, 2007, U.S. Bancorp's board of directors announced that Richard K. Davis has been elected as chairman, replacing Jerry A. Grundhofer. Mr. Grundhofer retired from the board of directors of U.S. Bancorp on December 11, 2007, and will now assume the title of chairman emeritus.