CFOs On the Move: Week ending Aug. 28

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GE Vernova appointed Claire McDonough as the energy firm's new CFO. McDonough will join the company in November before taking over as finance chief on Jan. 1, 2027. McDonough is currently chief financial officer of electric vehicle maker Rivian, and will step down on Oct. 30. Before joining Rivian as CFO in 2021, she was a managing director in investment banking and co-head of the disruptive commerce group at J.P. Morgan. Before that, she held financial leadership positions at Fairway Market and Credit Suisse. McDonough succeeds Ken Parks, who is retiring. Parks will transition into a strategic adviser role in the first quarter of 2027 and retire in April.

RaceTrac named Jill Pemberton as its new finance chief . Pemberton joins the convenience store chain from luxury products group LVMH Moët Hennessy Louis Vuitton, where she was most recently chief financial officer for its $20 billion North America region. Before joining LVMH in July 2020, she was senior vice president of corporate FP&A at Viacom. She earlier held senior finance roles at Johnson & Johnson, H.J. Heinz and Delta Air Lines. Pemberton succeeds Karla Ahlert, who was named RaceTrac's first chief administrative officer.

Hormel Foods named Ash Bhumbla as executive vice president and chief financial officer, effective Sept. 8. Bhumbla joins the company from Tyson Foods, where he has been CFO of its chicken segment since 2023. Before that, he held senior finance and corporate development leadership roles at Perdue Farms and International Flavors & Fragrances. Bhumbla replaces Paul Kuehneman, who has been interim CFO since October 2025. Kuehneman joined the company in 1993 and held ​​several accountant and controller roles throughout his tenure. He will remain a key senior leader within the finance team.

Robert Kleczynski was named chief financial officer of Exelon , effective Oct. 5. Kleczynski has worked at the U.S. utility company for over 24 years, most recently as senior vice president, corporate controller and head of tax. Kleczynski succeeds Jeanne Jones, who joined Exelon in 2007 and has been finance chief since 2022. She will assume the role of executive vice president of finance and strategy.

Benjamin Branstetter was promoted to chief financial officer of Targa Resources . Branstetter joined the natural gas firm in April 2017 and was named president of logistics and transportation in March. Before joining Targa, he previously held roles in investment banking, corporate strategy and risk management. Branstetter succeeds William Byers, who is retiring. Byers has worked in the energy industry for three decades and has been CFO of Targa for the last two years. Byers will transition to an advisory role through year-end.