The Dallas-based Army & Air Force Exchange Service, which operates  tax-free, department-style retail stores on military installations worldwide, has announced that its deputy director and CFO, Brad Bingham, will be the organization’s next CEO.

Bingham will replace Tom Shull, the Exchange’s first civilian director/CEO, who has led the organization since June 2012 and will retire in July. Bingham was selected by the service’s board, which is led by Lt. Gen. Caroline Miller.

America’s 51st-largest retailer

Known as the PX (post exchange) to Army service members and their families at bases worldwide—and as the BX (base exchange) on Air Force bases, the service’s retail locations add up to an $8.5 billion retail operation—making the service America’s 51st-largest retailer.

Shull called Bingham “a proven leader with 19 years of military resale and commercial business experience” and “a results-driven executive with the deep financial management and corporate strategy expertise necessary to balance sustainment of operations with strategic investments to drive long-term growth.”

“Brad is the right person at the right time to take the hard-earned Exchange benefit to even greater heights,” he added in a statement.

Two decades at the Exchange

Bingham joined the Exchange in 2006, holding progressive positions in finance and accounting. He spent five years at the senior executive leadership level and was promoted to SVP/CFO in 2020; EVP/CFO in 2021; and deputy director/CFO in 2024.

“It’s an honor to step into the role and build on the many successes the organization has achieved under the leadership of Tom Shull,” Bingham said. “The 130-year-old Exchange benefit is stronger than ever—and the team is well positioned to lean forward and do even more to enhance our military community’s readiness and resiliency.”

A native of Oklahoma City, Bingham earned a bachelor’s degree in finance from Oklahoma State University and a Master of Business Administration from Southern Methodist University’s Cox School of Business.

Since 1895, the Exchange has offered service people and their families “the best tastes of home” via tax-free shopping and military-exclusive pricing. The Exchange stores are available to active-duty service members, their families, veterans, Department of Defense civilians, and other authorized shoppers.

The Exchange has provided services in more than a dozen wars and military operations, including World War II, Korea, Vietnam and Operations Desert Storm and Iraqi Freedom, the organization said. The Exchange’s stores  are located across the U.S. and in more than 30 countries and territories around the world.

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