The wave of executive turnover in the retail sector shows no signs of slowing, with chief executives continuing to exit at an accelerated pace that dates back to the COVID‑19 era and has extended through the ongoing shift toward artificial intelligence and digital transformation. According to Forbes contributor Greg Petro, traditional turnover metrics understate the trend because some retail leaders are classified under broader sectors, and smaller or private companies may not be fully tracked.
Nonetheless, data through mid‑2025 reported by Challenger, Gray & Christmas revealed a striking 116% increase in retail CEO exits compared with the same period a year earlier.
In practical terms, this surge means dozens more CEOs have stepped down, retired, or been replaced in the retail industry compared with 2024. High‑profile departures have spanned major names like Target, Ulta Beauty, L.L. Bean, and others, illustrating that churn is not confined to lagging performers but is affecting well‑established brands as well.
The increase in exits reflects multiple forces bearing down on retail leadership.
Executives today face a vastly more complex operating environment than before the pandemic. They must simultaneously navigate rising labor and supply chain costs, rapidly evolving consumer behavior, aggressive e‑commerce expansion, and the pressure to integrate artificial intelligence into merchandising and fulfillment strategies.
At the same time, boards and investors are showing less patience for underperformance, often accelerating leadership transitions to signal strategic change.
The result is a leadership landscape in which tenure is shrinking and the job of retail CEO has never felt more precarious. For boards, the challenge is no longer simply finding a capable successor — but finding leaders with the strategic fluency to steer their organizations through transformation in an era of volatility.
