Fortune‘s 2025 Next to Lead list is out today. In its second year, this ranking identifies the execs who are on the cusp of taking over the biggest CEO jobs in the world. As my colleague Ruth Umoh put it in her introduction to the list:
These are leaders whose influence, track record, and ascent signal something unmistakable: They’re credible, near-term contenders for a CEO seat, regardless of whether they’re actually seeking it. Some are operating just one level below the top job; others are reshaping entire divisions or industries. Yet all have demonstrated the combination of results, reach, and readiness that’s historically defined executives on the threshold of the corner office.
Among the 25 execs chosen for this year’s list are several women to watch—if you’re not already. They include:
Halide Alagöz, chief product and merchandising officer, Ralph Lauren
Karen Carter, COO, Dow
Diana Frost, global chief growth officer, Kraft Heinz
Kate Gutmann, EVP and president international, health care and supply chain solutions, UPS
Marianne Lake, CEO, consumer and community banking, JPMorgan Chase
Anna Marrs, group president, global merchant and network services, American Express
Explore the full list here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
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ALSO IN THE HEADLINES
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Michelle Obama remembers Rob and Michelle Reiner. The first lady and Barack Obama had plans to see the Reiners the night after they were killed. "They are not deranged or crazed," she said after President Trump called Rob Reiner, who advocated against Trump, "a deranged person." "What they have always been are passionate people when there’s not a lot of courage going on." NYT
What to know about the Olayans. Lubna and Hutham Olayan are two of the most powerful women in Saudi Arabia. Lubnya Olayan recently joined a state dinner in Washington. She controls a $13 billion stock portfolio in the U.S. and a $50 billion empire in total. Bloomberg
Happy birthday, Jane Austen. It's the author's 250th. Celebrate with everything from a quiz of your Austen knowledge, to her life in 25 items (historic and gag gifts), an examination of her legacy, and by picking the ultimate Mr. Darcy.
ON MY RADAR
Mackenzie Scott's billion-dollar bet on vibes Vox
Can anyone afford childcare around here? New York Magazine
When my husband moved out, my glow-up began Self
PARTING WORDS
"Anyone who bashes the work that got them to where they are is doing themselves a great disservice."
— Actress Lili Reinhart on coming up through the teen drama Riverdale
