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 Aug. 16-22, organized by sector. Titles included in this roundup: CEOs (Chief Executive Officers), CFOs (Chief Financial Officers), COOs (Chief Operating Officers), CTOs (Chief Technology Officers), and CHROs (Chief Human Resources Officers). We also include CIOs (Chief Information Officers), Chief People 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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Business services

• Waste Management (No. 197) announced that Devina Rankin will retire as CFO in November after 23 years with the company, though she will stay with the company as an executive advisor through March 2026. David Reed, the company’s VP and business partner for WM’s West Tier operations, will succeed Rankin.

Food, beverages, and tobacco

• Hershey (No. 379) appointed Natalie Rothman as CHRO, effective Aug. 18. She previously served as Chief People Officer of Inspire Brands and succeeded Chris Scalia, who left the company to become EVP and CHRO of Johnson Controls at the beginning of August.

Retailing

• Target (No. 41) appointed Michael Fiddelke as CEO, effective Feb. 1, 2026. Fiddelke currently serves as the company’s COO and will succeed Brian Cornell, who has decided to step down from the position. Read more: Target stock is down 64% over 4 years—and investors who were ‘hoping for an external CEO’ are disappointed by the choice of its next leader

• Dollar General (No. 112) appointed Donny Lau as EVP and CFO, effective Oct. 20. Lau most recently served as COO of Zaxby’s Franchising LLC and previously spent six years at Dollar General, including as SVP, Finance and Chief Strategy Officer of the company before leaving in July 2023. He will succeed Kelly Dilts, who left the company in August to become CFO of Nordstrom (No. 291). 

• ARKO (No. 488) announced that CFO Robb Giammatteo is leaving the company, effective Oct. 10, to pursue a new opportunity in a different industry. The company has not shared details about a potential successor.

Technology

• Palo Alto Networks (No. 470) announced that founder and CTO Nir Zuk has retired after 20 years. He is succeeded by the company’s Chief Product Officer, Lee Klarich, whose new title is Chief Product and Technology Officer.

Transportation

• J.B. Hunt Transport Services (No. 348) appointed Brad Delco as CFO and EVP of Finance, effective Sept. 1. Delco currently serves as SVP of Finance for the company and will succeed John Kuhlow, who will become the company’s Chief Accounting Officer.

Source: S&P Global Market Intelligence