U.S. Bancorp Chairman Roger Breezley Resigns

PORTLAND - The chairman of U.S. Bancorp has resigned.

Roger Breezley announced his departure at a shareholder's meeting yesterday.

Gerry Cameron was named to succeed him. Cameron will also remain chief executive, a post he received in January in a move that prompted other top managers to leave.

Breezley is the third executive hired by former U.S. Bancorp chief executive John Elorriaga to leave the company in recent months.

Ed Jensen, the former vice chairman of U.S. Bancorp, already has left. Kevin Kelly, president of U.S. Bank, announced his resignation last month.

Eugene Goodrich, an analyst with Black & Co. in Portland, said the announcement of Breezley's resignation was unexpected but it was too early to say whether other changes would follow.

"They've established their goal of being a multistate bank and now somebody gets the opportunity to make it as efficient as possible," Goodrich said.