Factbox: From Walmart to Nestle, CEO churn sweeps global consumer goods makers

Stanley Black & Decker

12/01/2026 09:45

Adds Heineken

Jan 12 (Reuters) -
Dutch brewer Heineken HEIN.AS announced the departure of its CEO Dolf van den Brink, the latest consumer goods company to make a change at the top as the sector navigates tariff pressures and choppy consumer spending.

Here are some of the major CEO changes among global consumer goods companies in 2025 and 2026:

Company
Date of Announcement
Details
Unilever ULVR.L
February 25
The company ousted chief executive Hein Schumacher, replacing him with finance chief Fernando Fernandez.
Stanley Black & Decker SWK.N
June 30
The power tools maker appointed operations chief Christopher Nelson as its next CEO and president, effective October 1, succeeding Donald Allan Jr., who is set to retire.
Hershey HSY.N
July 8
Hershey named burger chain Wendy's WEN.O chief Kirk Tanner as its CEO, effective August 18, replacing Michele Buck, who is set to retire.
Hindustan Unilever HLL.NS
July 10
Hindustan Unilever named Priya Nair as managing director and CEO, replacing Rohit Jawa well before the completion of his five-year term as the company's chief.
Kenvue KVUE.N
July 14
The Band-Aid and Tylenol maker fired its CEO Thibaut Mongon, laying what some investors expect will be the groundwork for an eventual sale of the entire company or pieces of it, and named director Kirk Perry as interim CEO.
Diageo DGE.L
July 16
The Johnnie Walker whisky and Guinness beer maker's CEO, Debra Crew, stepped down after two years in the job, with finance chief Nik Jhangiani taking over in the interim.
Procter & Gamble PG.N
July 28
Procter & Gamble said CEO Jon Moeller is stepping away from the role, to be succeeded by Chief Operating Officer Shailesh Jejurikar.
Target TGT.N
August 20
The retailer named longtime company veteran Michael Fiddelke as its CEO, replacing retail industry bigwig Brian Cornell, effective February 1, 2026.
Nestle NESN.S
September 1
Nestle dismissed its CEO, Laurent Freixe, a year after appointing him, following an investigation into an undisclosed romantic relationship with a direct subordinate that breached the company's code of conduct. Freixe was replaced by Philipp Navratil, CEO of Nestle Nespresso, on September 1.
Walmart WMT.N
November 14
The company said Doug McMillon, who has been heading the retail bellwether since 2014, will retire in January 2026. John Furner, McMillon's successor, currently serves as CEO of Walmart U.S. and has held leadership roles at the company.
Kohl's Corp KSS.N
November 24
Kohl's Corp named retail veteran Michael Bender as its permanent CEO, after he served as the interim chief since May. Bender replaced Ashley Buchanan, who was fired for a personal relationship with a vendor.
Coca-Cola KO.N
December 10
Coca-Cola named COO Henrique Braun as its new CEO, effective March 31, 2026. Braun succeeds James Quincey, who is stepping down after nine years at the helm.
Altria MO.N
December 11
Altria announced that CEO Billy Gifford, who has led the tobacco giant since 2020, will retire, effective May 14, 2026. The tobacco giant announced Gifford will be succeeded by finance head Salvatore Mancuso.
Lululemon Athletica LULU.O
December 11
Lululemon Athletica LULU.O said its CEO Calvin McDonald will step down in January after about seven years at the helm.
The company named its finance chief Meghan Frank and chief commercial officer André Maestrini as co-interim CEOs while it searches for its new boss.
Kraft Heinz KHC.O
December 16
Kraft Heinz KHC.Onamed industry veteran and former Kellanova head, Steve Cahillane as its new CEO, ahead of the packaged food giant's split.
Cahillane will join the new role on January 1, succeeding Carlos Abrams-Rivera, who will serve as an advisor until March 6.
Coty COTY.N
December 22
Coty COTY.Nnamed Procter & Gamble veteran Markus Strobel interim CEO and executive chairman, handing him the reins as the CoverGirl parent battles a steep share-price slide and pressure on its mass-market business.
Heineken HEIN.AS
January 12, 2026
Heineken HEIN.ASsaid on Monday its CEO Dolf van den Brink would step down on May 31 after nearly six years of leading the Dutch brewer, as the industry battles to get drinkers buying more beer.

 (Reporting by Neil J Kanatt, Sanskriti Shekhar and Koyena Das in Bengaluru, Vera Dvorakova in Gdansk; Editing by Anil D'Silva, Alan Barona and Arun Koyyur)

 ((Neil.JKanatt@thomsonreuters.com))