Slide objects are placed on the slide in the order you insert them, with the most recently added object being on top of the stack. The Bring and Send commands on the right-click menu (or the Home tab) make it simple to reorder the layers.
Move an object
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Select the object.
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Right-click and select an option:
Direction
Select this option
Bring to Front >
Bring to Front to move the object to the top layer of the stack
Bring Forward to move the object up one layer in the stack
Send to Back >
Send to Back to move the object to the bottom layer of the stack
Send Backward to move the object down one layer in the stack
Use the Selection Pane to find or move an object
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If an object is hidden behind other objects, select Home > Select > Selection Pane.
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In the Selection Pane, drag an item to reorder the objects.
Source: Microsoft