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 March 1-7, 2025, organized by sector. Titles included in this roundup: CEOs (Chief Executive Officers), CFOs (Chief Financial Officers), COOs (Chief Operating Officers), and Chief Customer Officers. We also include CTOs (Chief Technology Officers), CIOs (Chief Information Officers), CHROs (Chief Human Resources Officers), Chief People Officers, and CMOs (Chief Marketing Officers) when there are Power Moves within the Fortune 500 announced pertaining to those roles.
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Food, beverages, and tobacco
- Kroger (No. 25) announced that CEO Rodney McMullen has stepped down from the role following an independent investigation into “certain personal conduct” that the company’s board was alerted to on Feb. 21. McMullen had been CEO of the grocery chain since 2014. Lead Director Ronald Sargent will serve as interim CEO while the company’s board searches for a permanent successor. Read more: Kroger CEO resigns from $150 billion grocery chain over ‘certain personal conduct,’ forfeiting 2024 bonus
- Albertsons (No. 53) announced that Executive Vice President and COO Susan Morris will succeed Vivek Sankaran as CEO upon his retirement, effective May 1.
- Hershey (No. 361) named Tiffany Menyhart to the new role of Chief Customer Officer, effective March 17. Menyhart currently serves as Area Vice President (SVP), Strategic Accounts and Growth Channels at Kraft Heinz (No. 156).
Health care
- BrightSpring Health (No. 436) promoted Jennifer Phipps to CFO, effective March 4. Phipps previously served as Chief Accounting Officer, Principal Accounting Officer, and Chief Financial Officer of BrightSpring’s Home Health and Hospice segment, as well as Senior Vice President of Treasury, Risk, Tax, Real Estate, and Procurement. She replaces former CFO Jim Mattingly.
Hotels, restaurants, and leisure
- Starbucks (No. 116) announced that Cathy Smith will replace Rachel Ruggeri as CFO, though no specific date for the transition is set. Smith currently serves as the CFO of Nordstrom (No. 286). Read more: Why Starbucks picked retail veteran Cathy Smith to be its CFO
Household products
- Masco (No. 466) appointed Jonathon Nudi as CEO, effective July 7. Nudi most recently served as Group President of General Mills’s Pet, International, and North America Foodservice segments and will replace Keith Allman as CEO upon his retirement.
Power
- Xcel Energy (No. 302) announced that Executive Vice President and COO Timothy O’Connor will retire from the company, effective May 1. He will be succeeded by Scott Sharp, who will become the company’s Executive Vice President and Chief Generation Officer, and Michael Lamb, who will be named Executive Vice President and Chief Delivery Officer.
Retailing
- Dollar Tree (No. 143) named Stewart Glendinning as CFO, effective March 30. Glendinning currently serves in a senior role focused on enterprise-wide transformation initiatives and will succeed current CFO Jeffrey A. Davis.
Source: S&P Global Market Intelligence
