Fortune 500 Power Moves: Which executives gained and lost power, Jan. 11–17, 2025

Harry Sideris was appointed CEO of Duke Energy (No. 148 on the Fortune 500), effective April 1, 2025.
Harry Sideris was appointed CEO of Duke Energy (No. 148 on the Fortune 500), effective April 1, 2025.
Courtesy of Duke Energy

This is Fortune 500 Power Moves, a weekly column tracking executive shifts—from appointments and promotions to resignations and retirements—within the highest ranks of Fortune 500 companies. 

Below is a recap of the C-suite developments at America’s highest-revenue-generating companies announced between Jan. 11–17, 2025, organized by sector. Titles included in this roundup: CEOs (Chief Executive Officers), COOs (Chief Operating Officers), CTOs (Chief Technology Officers), CIOs (Chief Information Officers), CHROs (Chief Human Resources Officers), and Chief People Officers. We also include CFOs (Chief Financial Officers), CMOs (Chief Marketing Officers), and Chief Customer Officers when there are Power Moves within the Fortune 500 announced pertaining to those roles.

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Energy

  • PPL (No. 451) announced that EVP and COO Francis X. Sullivan will retire effective April 4, 2025, marking the company’s elimination of the COO role. Sullivan’s responsibilities will be assumed by David J. Bonenberger, who will become EVP and COO-Utilities, and Lonnie Bellar, who will become EVP of Engineering, Construction, and Engineering. 

Financials

Foods, Beverage, and Tobacco

Industrials

  • Caterpillar (No. 59) announced that Cheryl H. Johnson is retiring as CHRO, effective April 30. The company has not yet named a successor for Johnson, who has served as CHRO since 2017.

Retailing

  • Target (No. 37) announced that Brett Craig is retiring as Executive Vice President and CIO of Target, effective Feb. 2, 2025. He will be succeeded by current Executive Vice President and Chief Digital and Product Officer Prat Vemana

Technology 

  • HP (No. 82) appointed Carol Surface as Chief People Officer, effective March 24, 2025. Surface previously served as Chief People Officer at Apple (No. 3) and will replace Kristen Ludgate at HP. 

Source: S&P Global Market Intelligence

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