The 2026 Fortune 500 list is out
June 3, 2026
Some companies merged (Interpublic/Omnicom, Kimberly-Clark/Kenvue). Some companies acquired (Footlocker, Hess). Some companies have been taken private (Endeavor, Nordstrom). Some companies have new CEOs (Walmart, Berkshire Hathaway). Some companies have rebranded (FM). There's also a long list of private companies on the Fortune 500.
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Here's a recap of some of the highlights from 2025
Discover Financial – In 2025 Discover continued operating independently while progressing toward its pending acquisition by Capital One and posted strong Q1 2025 earnings with EPS of 4.25, beating estimates and supporting an upgrade of its issuer rating by Fitch to A-.
FM (formerly FM Global) – FM Global continues to reposition under the simplified “FM” branding, with 2025 characterized by a push into risk engineering and climate‑resilience offerings rather than ownership or capital‑structure changes.
Walgreens – Post‑take‑private, Sycamore’s 2025 plan is to enhance Walgreens’ health‑care services and focus each separated business (including Shields Health Solutions, CareCentrix and VillageMD) on targeted performance improvements before potential asset divestitures.
Kellanova – Following its 2023 separation from WK Kellogg, Kellanova’s 2025 story is about executing as a focused snacking company, with incremental portfolio and supply‑chain moves rather than another break‑up or major recombination.
Paramount – In 2025 Paramount faces continued strategic pressure around streaming and asset monetization, with industry reports focusing on potential asset sales or combinations rather than a single completed megadeal as of mid‑year.
Foot Locker – 2025 is another chapter in Foot Locker’s turnaround play, with continued store rationalizations and merchandising changes rather than corporate control changes.
Nordstrom – Nordstrom’s 2025 narrative remains focused on balancing off‑price vs. full‑price banners and digital vs. store traffic, with no completed high‑profile sale or take‑private deal as of mid‑year.
SpartanNash (acquired by C&S Wholesale Grocers) – In 2025 C&S Wholesale Grocers agreed to acquire SpartanNash for more than $1.7 billion with an expectation to close in late 2025 (with an outside regulatory date of June 22, 2026), and in September 2025 C&S announced completion of the deal, taking SpartanNash private and creating a combined wholesale grocery company with nearly 60 distribution centers serving around 10,000 retail locations and over 200 corporate‑run stores.
Hess – Chevron closed its roughly $53–55 billion acquisition of Hess in July 2025 after winning a high‑profile arbitration dispute with ExxonMobil over Guyana assets, giving Chevron a 30% stake in the massive Stabroek Block and prompting around 650 job cuts in Texas and North Dakota as Chevron integrated the business.
Owens & Minor (Accernda Health) – Owens & Minor in 2025 continues integrating prior acquisitions and rebranding elements of its patient‑direct business (Accernda Health) while focusing on margin improvement, but no new megadeal or ownership change is yet evident.
Endeavor (acquired by Silver Lake) – Silver Lake closed its approximately $25 billion public‑to‑private acquisition of Endeavor Group Holdings in March 2025 at $27.50 per share, taking Endeavor off the NYSE, consolidating 100% of the equity, and rebranding its representation portfolio as WME Group while Endeavor retains a controlling stake in TKO (UFC/WWE).
Interpublic (Omnicom Group) – Interpublic and Omnicom remain separate large holding companies; 2025 discussion has centered on agency consolidation and AI‑enabled media offerings rather than any merger between them.
Berkshire Hathaway – In 2025 Berkshire announced it would formally split the chairman and CEO roles, with Warren Buffett remaining chairman and Greg Abel slated to become CEO on January 1, 2026, marking the first planned handoff of chief executive duties in decades.
Coca‑Cola – In December 2025 Coca‑Cola named COO Henrique Braun as successor to James Quincey, with Braun scheduled to become CEO effective March 31, 2026 while Quincey transitions to executive chairman.
Walmart – In November 2025 Walmart’s board elected long‑time executive John Furner to succeed Doug McMillon as president and CEO, with Furner’s transition taking effect in early 2026.
Target – In August 2025 Target announced that COO Michael Fiddelke will become CEO on February 1, 2026, succeeding Brian Cornell as part of a planned leadership transition.
UnitedHealth (UnitedHealth Group) – In May 2025 UnitedHealth Group CEO Andrew Witty stepped down for personal reasons and the company brought back former chief Stephen Hemsley as CEO while simultaneously suspending its 2025 outlook due to higher‑than‑expected medical costs.
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