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Meet the new class of retail CEOs set to take the reins at Walmart, Target, and more

December 27, 2025

by cintianmenecucci with No Comment Xpandfy

2025-12-27T10:44:01.216Z

2025 has been a big year for retail CEO transition announcements.
Roughly 45 retailers said they are changing leadership, up from about 32 the year before.
Here are some of the more notable retail chains that are getting a new CEO.

2025 may go down as the end of an era in retail.

This was the year that the longtime CEOs at two of the largest chains decided to hand the reins over to their corporate proteges.

The retirements of Walmart’s Doug McMillon and Target’s Brian Cornell come as the industry is facing an array of new (and long-term) challenges in the form of a global trade rebalancing, accelerated adoption of AI, and increasingly stretched US household budgets.

Fresh legs might be a welcome addition in this race.

Dozens of smaller retailers have taken the opportunity to shake up the C-suite as well.

Analysis from leadership consultancy Challenger, Gray & Christmas found that 43 retail companies announced CEO exits in the first 10 months of this year, up from 32 in the same period last year. A few more announcements have come through since.

Here are some of the major retail chains that are getting a new CEO in the new year.

Walmart — John Furner

Walmart’s incoming CEO, John Furner.

Walmart

Walmart said in November that the company’s US division CEO, John Furner, would become president and CEO on February 1.

Like outgoing CEO Doug McMillon, Furner has been with Walmart for decades, starting as an hourly associate and working his way up through the ranks.

Target — Michael Fiddelke

Target's new CEO Michael Fiddelke. — Target has tapped Michael Fiddelke as its new CEO.

Target

Target said in August that chief operating officer Michael Fiddelke would succeed Brian Cornell on February 1, with Cornell remaining on the board as Executive Chair.

Fiddelke has been with the company for 20 years, starting as a finance intern and moving through roles in merchandising, finance, operations, and human resources.

Camping World — Matthew Wagner

A Camping World RV dealership in Florida.

John Greim/LightRocket via Getty Images

RV dealer Camping World said in December that founder Marcus Lemonis would step down as CEO on January 1, with company president Matthew Wagner taking over.

Wagner has been with Camping World since 2007, serving in numerous leadership roles before being appointed chief operating officer in 2023 and president in 2024.

Kraft Heinz — Steve Cahillane

Kraft Heinz has tapped Steve Cahillane as its new CEO.

Kraft Heinz

Kraft Heinz said in December that it has snagged Kellanova CEO Steve Cahillane to take over from Carlos Abrams-Rivera on January 1.

The company will later split into two publicly traded companies, North American Grocery Co. and Global Taste Elevation Co., with Cahillane remaining in charge of the latter.

Cahillane has a long career leading consumer products companies like The Nature’s Bounty Co. and Coca-Cola’s Americas division. He also spent eight years with AB InBev.

Kohl’s — Michael Bender

Kohl's CEO Michael J. Bender — Kohl’s has made Michael Bender its permanent CEO.

Kohl’s

In fairness, Michael Bender’s transition effectively happened back in May, but Kohl’s made it official in late November when the retailer said Bender would go from interim CEO to a permanent appointment.

That means Kohl’s will start the new year with one less distraction under the leadership of a highly experienced retail executive who has already had a positive impact on the company.

Lululemon — Meghan Frank and André Maestrini (for now)

Lululemon interim co-CEOs Meghan Frank and André Maestrini — Lululemon has appointed Meghan Frank and André Maestrini as interim co-CEOs.

Lululemon

Athleisure brand Lululemon said in December that it was parting ways with CEO Calvin McDonald on January 31, but hasn’t yet identified a permanent successor.

In the meantime, the company said board chair Marti Morfitt would expand her role to become executive chair, and that CFO Meghan Frank, chief commercial officer André Maestrini would serve as interim co-CEOs following McDonald’s departure.

7-Eleven — Stan Reynolds and Doug Rosencrans

7-Eleven convenience store chain, close-up exterior sign logo.

A 7-Eleven store in Florida.

Jeffrey Greenberg/Universal Images Group via Getty Images

Parent company Seven & i Holdings said in December that CEO Joe DePinto would retire at the end of the year. The company’s current president, Stan Reynolds, and chief operating officer, Doug Rosencrans, are set to serve as co-CEOs until a permanent successor is hired.

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Meet the new leaders who’ll be stepping up at Greg Abel’s Berkshire Hathaway

December 8, 2025

by cintianmenecucci with No Comment Xpandfy

Berkshire Hathaway is reshuffling its top ranks ahead of the departure of its legendary CEO, Warren Buffett, in January.

The company announced on Monday that Todd Combs, one of Buffett’s key deputies and CEO of Berkshire-owned Geico, is departing the company to take on a role at JPMorgan.

Alongside Combs’ departure, Berkshire Hathaway announced a series of new leadership appointments.

The company said that the new leaders are “stewards of the company’s culture, demonstrate strong business acumen and judgment, and enable Berkshire’s distinctive way of operating.”

The shake-up of Berkshire Hathaway’s top ranks comes weeks before Greg Abel is due to take over from Warren Buffett as CEO in January. 95-year-old Buffett will remain as chairman of the business that he has led for the past 60 years.

Here’s the full list of appointments, most of which are effective immediately, according to Berkshire Hathaway’s Monday announcement.

Nancy Pierce becomes Geico CEO

The Geico Gecko is one of America’s best-known corporate mascots.

Scott Olson/Getty Images

Nancy Pierce is succeeding Todd Combs as CEO of Geico, the auto insurer owned by Berkshire Hathaway and one of the conglomerate’s core subsidiaries.

Pierce joined Geico in 1986 and was chief operating officer of the company before being tapped as CEO. She has held leadership roles across claims, underwriting, product management, and regional operations.

“Nancy knows the business inside and out. She’s practical, decisive, and focused on results,” said Ajit Jain, vice chairman for insurance operations.

Adam Johnson takes over as head of Berkshire’s consumer division

Adam Johnson has been appointed president of Berkshire Hathaway’s consumer products, service, and retailing businesses.

Johnson has been CEO of the Berkshire-owned private jet company NetJets for over 10 years — a role he’ll continue alongside the new appointment.

“Adam is an accomplished leader with a proven ability to deliver long-term shareholder value,” said Abel, Berkshire’s incoming CEO, in Monday’s press release.

“In his new role, he will support the outstanding CEOs of our 32 consumer products, service, and retailing businesses, and uphold Berkshire’s culture and values.”

Johnson’s new role hints at Abel’s plans for Berkshire. Under Buffett, the incoming CEO oversaw all non-insurance businesses.

The new CEO is splitting up the non-insurance businesses owned by the company.

Johnson will be in charge of consumer firms like See’s Candies and Fruit of the Loom, while Abel will manage the rest, including BNSF Railway, BHE, Pilot, and McLane, alongside his CEO duties.

Greg Abel will succeed Warren Buffett as Berkshire Hathaway CEO in January.

Kevork Djansezian/Getty Images

Marc Hamburg retires as chief financial officer

Marc Hamburg, the long-serving senior vice president and chief financial officer of Berkshire Hathaway, will retire on June 1, 2027.

Now 75 years old, Hamburg joined Berkshire in 1987.

Hamburg’s role was to oversee the conglomerate’s finances. The company hit a record $1 trillion market value in August 2024 and is currently valued at $1.09 trillion.

“Marc has been indispensable to Berkshire and to me. His integrity and judgment are priceless. He has done more for this company than many of our shareholders will ever know,” said Buffett in Monday’s press release.

“His impact has been extraordinary.”

Charles Chang replaces Hamburg

Stepping into Hamburg’s shoes when he retires in June 2027 is Charles Chang.

Chang has been a senior vice president and chief financial officer of Berkshire Hathaway Energy since 2024, and will take over as finance chief of Berkshire. He will be based in Omaha.

Chang is a former partner at the Big Four professional services firm PwC, where he developed over three decades of experience in public company financial reporting and mergers and acquisitions for some of PwC’s largest clients.

Michael O’Sullivan joins as general counsel

A new position has been created for Michael O’Sullivan when he joins Berkshire on January 1, 2026.

O’Sullivan will become senior vice president and general counsel at Berkshire and will be based in Omaha. The company has historically relied primarily on external legal counsel for corporate matters.

O’Sullivan was formerly an attorney at Munger, Tolles & Olson — the firm founded by Buffett’s late right-hand man, Charlie Munger — for over twenty years.

The law firm has been Berkshire’s go-to law firm for decades, meaning O’Sullivan knows the company well. He joins from Snap, where he has served as general counsel since 2017.