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

Become an Insider and start reading now. Have an account? . 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 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 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 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 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 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...

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