The New Faces of Retail: Key CEO Changes from January to September 2025

The retail industry has experienced a notable wave of leadership shake-ups in 2025, as major brands have reshaped their executive suites to navigate shifting consumer behaviors, digital disruption, and economic uncertainty.

From January through September, some of the world’s largest retailers have experienced significant leadership turnover, some bringing in fresh perspectives from outside the sector, others promoting seasoned insiders to lead the next chapter of growth. These changes mark not just personnel shifts but they signal new strategies, cultural shifts, and the future direction of retail that could redefine the competitive landscape of global retail in the years ahead.

This blog spotlights the most significant retail leadership transitions between January and September 2025—covering who took charge, who stepped aside, and the potential implications for the broader retail industry. The insights are drawn from Intellizence’s CXO Changes dataset.

January 2025

• Hiroki Totoki—then President, COO, and CFO—would become Representative Director, President, and CEO of Sony Group, effective April 1. 
• Unilever appointed Fernando Fernández as CEO, succeeding Hein Schumacher, effective March 2025. 
• As of January 15, 2025, Ashley Buchanan took over as CEO of Kohl’s, replacing Tom Kingsbury, who stepped down and remained in an advisory/board role. 

February 2025

• As of February 1, 2025, Bonnie Brennan became CEO of Christie’s, succeeding Guillaume Cerutti.

March 2025

• Panera Brands CEO José Alberto Dueñas has stepped down from his role, and the company’s chief financial officer, Paul Carbone, has been named interim CEO effective immediately.
• Albertsons CEO Vivek Sankaran will retire and will be succeeded by insider Susan Morris, effective May 1, 2025.
• On March 3, 2025, Ronald L. “Ron” Sargent was named interim CEO of Kroger after the previous CEO, Rodney McMullen, resigned amid a personal conduct probe.

 May 2025

• Kohl’s let go of Ashley Buchanan just over 100 days into his tenure, due to a policy violation involving vendor dealings.  
• Instacart names Chris Rogers as CEO after Fidji Simo’s exit for OpenAI.
• Bath & Body Works has appointed Daniel Heaf as Chief Executive Officer.

June 2025

• Aldi U.S. has named Atty McGrath as its next CEO.

July 2025

• Gap Inc. has appointed Maggie Gauger as Global Brand President and CEO of Athleta, succeeding Chris Blakeslee in the role. 
• Aaron Cain is taking over the top job at Converse. He succeeds Jared Carver, who has decided to leave the brand after serving as CEO for two years.
• Kirk Tanner, President and Chief Executive Officer of The Wendy’s Company, is leaving, to be succeeded by Ken Cook, the Company’s Chief Financial Officer, as Interim CEO.

August 2025

• Walgreens appointed retail veteran Mike Motz as its new CEO on August 28, following the company’s acquisition by Sycamore Partners. Motz replaced Tim Wentworth, and John Lederer became executive chairman. 
• Kirk Tanner was appointed President and Chief Executive Officer of The Hershey Company.
• Target named longtime COO Michael Fiddelke as its next CEO, replacing Brian Cornell effective February 1, 2026. 
• Mike Matacunas, President & Chief Executive Officer (CEO), will retire from the SPAR Group in October 2025, after nearly five years of exceptional leadership in the role.

September 2025

• Nestlé, S.A. appointed Philipp Navratil as the new CEO to succeed Laurent Freixe.
• GlaxoSmithKline (GSK) announced that Emma Walmsley will step down as CEO, to be succeeded by Luke Miels (its chief commercial officer), beginning in January 2026. 

The Road Ahead for Retail Leadership

The wave of CEO transitions across the retail sector so far in 2025 underscores the industry’s rapid evolution. As companies face pressures from digital transformation, changing consumer expectations, and global economic uncertainty, leadership choices will play a pivotal role in shaping resilience and growth strategies. The months ahead will reveal whether these new leaders can successfully steer their organizations toward innovation, profitability, and long-term relevance in an increasingly competitive retail landscape.