Tuesday, December 16, 2025

Meet the top female execs who are poised to take over the Fortune 500

Fortune‘s 2025 Next to Lead list is out today. In its second year, this ranking identifies the execs who are on the cusp of taking over the biggest CEO jobs in the world. As my colleague Ruth Umoh put it in her introduction to the list:

These are leaders whose influence, track record, and ascent signal something unmistakable: They’re credible, near-term contenders for a CEO seat, regardless of whether they’re actually seeking it. Some are operating just one level below the top job; others are reshaping entire divisions or industries. Yet all have demonstrated the combination of results, reach, and readiness that’s historically defined executives on the threshold of the corner office.

Among the 25 execs chosen for this year’s list are several women to watch—if you’re not already. They include:

Halide Alagöz, chief product and merchandising officer, Ralph Lauren

Karen Carter, COO, Dow

Diana Frost, global chief growth officer, Kraft Heinz

Kate Gutmann, EVP and president international, health care and supply chain solutions, UPS

Marianne Lake, CEO, consumer and community banking, JPMorgan Chase

Anna Marrs, group president, global merchant and network services, American Express

Explore the full list here.

Emma Hinchliffe
emma.hinchliffe@fortune.com

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