Fortune 500 Power Moves: Which executives gained and lost power, Jan. 4–10, 2025

Below is a recap of the C-suite developments at America’s highest-revenue-generating companies announced between Jan. 4–10, 2025, organized by sector. Titles included in this roundup: CEOs (Chief Executive Officers), COOs (Chief Operating Officers), CFOs (Chief Financial Officers), Chief Information Officers (CIOs), and Chief Customer Officers. We also include CHROs (Chief Human Resources Officers), Chief People Officers, CMOs (Chief Marketing Officers), and CTOs (Chief Technology Officers) when there are Power Moves within the Fortune 500 announced pertaining to those roles.

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Aerospace and Defense

• Boeing (No. 52) announced its appointment of Dana Deasy as Chief Information Digital Officer and Senior Vice President, Information Technology and Data Analytics, effective Dec. 31, 2024. He formerly served as CIO in the U.S. Department of Defense and replaces Susan Doniz at Boeing.

• Southwest Airlines (No. 159) announced that Tammy Romo will retire as Executive Vice President and CFO, effective April 1, 2025. The airline has yet to announce a successor.  

Energy

• American Electric Power (No. 217) named Trevor I. Mihalik as CFO, effective Jan. 20. Mihalik previously served as group president at Sempra (No. 246) and will replace Chuck Zebula, who will transition to senior adviser to the CEO until his retirement in March. 

• Oneok (No. 232) appointed Randy N. Lentz as Executive Vice President and COO and Sheridan C. Swords as Executive Vice President and Chief Commercial Officer, effective immediately. Lentz previously served as CEO of Medallion Midstream, and Swords previously served as Executive Vice President.

Financials

• Freddie Mac (No. 36) appointed James Whitlinger as CFO, effective Jan. 1. Whitlinger has served as interim CFO since June 2024, after previous CFO Christian Lown left the company. 

• USAA (No. 103) appointed Juan C. Andrade as President and CEO, effective April 2, 2025. Andrade currently serves as CEO of Everest Group and will succeed Wayne Peacock at USAA. Read more: USAA’s president to his fellow CEOs: You need to be ‘multiple crisis managers on an ongoing basis’

• Principal Financial Group (No. 310) made its promotion of Deanna Strable to CEO official as of Jan. 7. The company originally announced her promotion from COO to CEO in November 2024. She replaces Dan Houston, who continues to serve as executive chair of the board. Read more: How new Fortune 500 CEO Deanna Strable went from intern to head of a $13 billion company

• M&T Bank (No. 317) appointed Krista Phillips as its first Chief Customer Officer, leading customer experience, marketing, and analytics. Previously, she served as an Executive Vice President at Wells Fargo and held several positions at Citi.

Media

• Liberty Media (No. 328) appointed Derek Chang as CEO, effective Feb. 1, 2025. Chang most recently served as Executive Chairmen of EverPass Media. John Malone will serve as interim CEO until Chang assumes the role.

Real estate

• American Tower (No. 363) appointed Eugene (“Bud”) Noel to Executive Vice President and COO, a newly created position, effective Jan. 13, 2025. Noel currently serves as Executive Vice President and President of the U.S. Tower Division.

Retailing

• Ulta Beauty (No. 360) appointed Kecia Steelman as President and CEO, effective Jan. 6, 2025. Steelman previously served as President and COO of the company and succeeds Dave Kimbell as CEO. Read more: The Fortune 500 has two new female CEOs—finally pushing that milestone above 11%

Source: S&P Global Market Intelligence