The corporate landscape is constantly evolving, and this week was no exception for Fortune 500 companies. From new appointments and strategic reshuffles to retirements and resignations, several high-profile executives experienced major shifts in power. Here’s a breakdown of the most notable executive movements across major corporations.
Executives on the Rise
Brian Newman – Chief Financial Officer, CVS Health
CVS Health has appointed Brian Newman as its new Chief Financial Officer, effective April 21, 2025. With a solid track record at UPS and PepsiCo, Newman brings deep expertise in logistics and finance. His appointment is part of CEO David Joyner’s broader strategy to strengthen leadership amid growing financial pressures. The market responded positively, with CVS shares rising 7% following the announcement.
Amy Compton-Phillips – Chief Medical Officer, CVS Health
Another strategic addition to CVS Health is Amy Compton-Phillips, who will step in as Chief Medical Officer on May 19. With experience at Press Ganey and Providence Health & Services, she’s expected to drive the company’s healthcare transformation efforts, especially in the post-pandemic landscape.
Harry Sideris – Chief Executive Officer, Duke Energy
Harry Sideris officially took the helm at Duke Energy on April 1, 2025, after nearly three decades with the company. He replaces Lynn Good, a respected figure in clean energy advancement. Sideris’s promotion emphasizes Duke Energy’s commitment to nurturing leadership from within.
Kevan Parekh – Chief Financial Officer, Apple Inc.
Apple has promoted Kevan Parekh to CFO, succeeding Luca Maestri on January 1, 2025. Parekh, a long-time financial leader at Apple, now reports directly to CEO Tim Cook. His appointment signals continuity and deep institutional knowledge, key as Apple navigates an evolving tech economy.
James Conroy – Chief Executive Officer, Ross Stores
Retail giant Ross Stores welcomed James Conroy as its new CEO in February. He succeeds Barbara Rentler, who led the company for over a decade and now serves as Vice Chair of the Board. Conroy’s leadership is expected to bring fresh energy to Ross’s strategic vision.
Executives Stepping Down
Lynn Good – Retired CEO, Duke Energy
After over 11 years at the helm, Lynn Good has retired from her role as Duke Energy’s CEO. Her leadership saw major progress in reducing carbon emissions and promoting clean energy. She leaves behind a legacy of sustainability and transformation in the utility sector.
Tom Kingsbury – Stepped Down as CEO, Kohl’s
Tom Kingsbury exited his CEO role at Kohl’s in January 2025. Though he remains in an advisory capacity until May, leadership has already transitioned to Ashley Buchanan. Kingsbury’s tenure helped stabilize the brand during challenging retail shifts.
Gary C. Kelly – Retired as Executive Chairman, Southwest Airlines
In a surprise early departure, Gary C. Kelly retired as Executive Chairman of Southwest Airlines in November 2024. The move followed growing pressure from Elliott Investment Management. Former IndiGo co-founder Rakesh Gangwal now leads as Chairman, marking a new chapter for the airline.
Melanie Krause – Resigned as Acting Commissioner, IRS
Melanie Krause made headlines this week with her resignation from the IRS. Her decision came in protest of a controversial data-sharing agreement with ICE, signaling ongoing tensions within federal agencies over data transparency and immigration enforcement.
Conclusion
This week’s executive shakeups highlight the ever-changing dynamics of leadership within Fortune 500 companies. While new appointments promise innovation and renewed energy, notable exits mark the end of influential eras. These transitions will undoubtedly shape the strategic paths of their respective companies in the months ahead.
