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

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

• Duke Energy Corporation (No. 148) appointed Harry Sideris as CEO, effective April 1, 2025. Sideris, currently the company’s President, will succeed Lynn Good. Read more: Duke Energy CEO Lynn Good’s advice to her younger self

• 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

• JPMorgan Chase (No. 12) announced that President and COO Daniel Pinto has decided to retire at the end of 2026 and step down from those roles on June 30, 2025. Jennifer Piepszak, formerly the Co-Chief Executive Officer of the Commercial & Investment Bank, has assumed the title of COO, effective immediately. Read more: Jamie Dimon’s ‘hit by a bus’ successor Daniel Pinto leaves JPMorgan—and the new COO says she doesn’t want the top job either

Foods, Beverage, and Tobacco

• Hormel Foods (No. 343) announced that Chairman, President, and CEO James P. Snee will retire at the end of fiscal 2025. Snee may remain as a board member if re-elected later this month, but the board is searching for his successor as President and CEO. Read more: Spam’s $3.50 ‘affordable protein’ price tag has Hormel Foods’ CEO feeling good about the future in the age of the cash-strapped consumer

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. 

• Advance Auto Parts (No. 358) appointed Shweta Bhatia as Executive Vice President and CTO, effective immediately. Bhatia previously served as Senior Vice President of Technology at Dollar General (No. 111) and replaces current CTO Sri Donthi.

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