From Walmart to Lululemon, meet 10 CEOs stepping into retail's biggest jobs this year

This year is shaping up to be a big one for retail CEO transitions.
Roughly 45 retailers also said they plan to change leadership in 2025, up from about 32 the year before.
Here are some of the major retail chains that are appointing new CEOs.

Retail is in a moment of sweeping leadership change.

The longtime CEOs at two of the largest chains, Walmart and Target, handed the reins to their proteges this year — and dozens of others are shaking up the C-suite.

The transitions come as challenges, including a global trade rebalancing, accelerated adoption of AI, and increasingly stretched US household budgets, demand new solutions.

Fresh legs might be a welcome addition in this race.

Leadership consultancy Challenger, Gray & Christmas found that 43 retail companies announced CEO exits in the first 10 months of 2025, up from 32 in the same period last year. Quite a few more have come through since then.

Here are some of the major retail chains that have gotten — or expect to get — a new CEO this year.

Walmart — John Furner

Walmart's John Furner smiles in a blue suit and a name tag.

Walmart's former head of its US division, John Furner, became president and CEO of the company on February 1.

Like former 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'sformerchief operating officer,Michael Fiddelke,succeeded Brian Cornell as CEOon 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.

Best Buy — Jason Bonfig

Best Buy said CEO Corie Barry would step down at the end of October and be replaced by Jason Bonfig, who has overseen the rise of two key areas: retail media, which is industry speak for advertising, and its online marketplace.

Jefferies analysts said in April that the appointment prioritizes those "needle-moving profit engines" at the otherwise challenged electronics retail business.

Kroger — Greg Foran

Greg Foran, chief executive officer of Air New Zealand Ltd., at the company's headquarters in Auckland, New Zealand, on Friday, Nov. 1, 2024.

Kroger said in February that it had named Greg Foran as its new CEO, citing his track record of disciplined execution at large companies.

While Foran most recently served as CEO of Air New Zealand, he spent much of his career at Walmart, where he ultimately reached the role of Walmart US CEO until 2019.

Lululemon — Heidi O'Neill

A woman walks past a Lululemon store in Beijing on April 15, 2026.

Athleisure brand Lululemon said former Nike executive Heidi O'Neill would take over as CEO in September, citing her three decades of experience leading in performance apparel, footwear, and sport categories. Her most recent role was president of Nike's consumer and marketplace division.

The company parted ways with CEO Calvin McDonald on January 31 and is led in the interim by CFO Meghan Frank and chief commercial officer André Maestrini.

L.L.Bean — Greg Elder

Customers make their way out of LL Bean in Freeport Wednesday, January 25, 2023.

Outdoor lifestyle brand L.L.Bean in January promoted its chief retail officer, Greg Elder, to take over the top job at the 114-year-old company.

Elder previously worked at Eddie Bauer and the Dayton Hudson Corporation (now Target), and has been with L.L.Bean for almost 20 years. His most recent portfolio included managing stores, wholesale, international, and direct-to-business for the storied brand.

Kraft Heinz — Steve Cahillane

Kraft Heinz has tapped Steve Cahillane as its new CEO.

Kraft Heinz snagged former Kellanova CEO Steve Cahillane to take over from Carlos Abrams-Rivera on January 1.

The company had planned to split this year into two publicly traded businesses, but scrapped that plan. Cahillane said at a February conference that the prospect of dividing the company and also turning around the declining businesses was not manageable.

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.

Saks — Geoffroy van Raemdonck

Saks Global in January appointed former Neiman Marcus Group CEO Geoffroy van Raemdonck as its new chief as the struggling retailer filed for Chapter 11 bankruptcy protection.

Van Raemdonck replaced Richard Baker, Saks Global's former interim CEO and executive chairman, who was largely responsible for the retailer's acquisition of Neiman Marcus.

7-Eleven — Stan Reynolds and Doug Rosencrans

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

Jeffrey Greenberg/Universal Images Group via Getty Images

The CEO of 7-Eleven's parentcompany, Seven & i Holdings, Joe DePinto, retired at the end of last year. The company's former president, Stan Reynolds, and chief operating officer, Doug Rosencrans, are serving as co-CEOs until a permanent successor is hired.

Camping World — Matthew Wagner

A Camping World RV dealership in Florida.

RV dealer Camping World founder Marcus Lemonis stepped 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.

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