Walmart Announces CFO Transition Plan
November 29 2021 - 8:30AM
Business Wire
Chief Financial Officer Brett Biggs to
transition from the company on Jan. 31, 2023
Walmart Inc. announced that Executive Vice President and Chief
Financial Officer Brett Biggs will begin transitioning from Walmart
during this upcoming year, after 22 years with the company, to
begin a new chapter of opportunities in both the for-profit and
non-profit sectors.
Biggs will remain in the CFO role until a successor is named
next year and then support that transition, remaining as an
associate until he leaves the company on Jan. 31, 2023. As part of
the transition, he will also continue representing the company as a
board member on Walmart’s FinTech startup joint venture with Ribbit
Capital.
The company will consider internal and external candidates
before naming a successor. Biggs has served as Walmart’s executive
vice president and chief financial officer since Dec. 31, 2015.
“Brett’s high character and strong leadership have played a
central role during one of the most significant periods in the
company’s history,” said Walmart President and Chief Executive
Officer Doug McMillon. “His contributions have been a key to the
important steps we’ve taken to transform the company on our omni
journey. Brett has elevated the finance organization and
strengthened the team through his commitment to excellence and
talent development. We are fortunate to have benefited from his
talents, and we appreciate everything he’s done for the company
during his career.”
“My time at Walmart these past 22 years has been incredible,”
Biggs said. “It has been a privilege to work alongside Doug, our
leadership team and the many talented individuals throughout the
company and finance organization. Our company has never been
stronger, and I believe we’re set up for continued success to serve
customers and deliver a retail experience unlike any other company.
Given the tremendous positioning and momentum of the company, now
felt like the right time to transition to the next chapter in my
personal and professional life. I want to thank Doug, the
leadership team, the Walton Family and the Board of Directors for
their tremendous support during my career.”
Biggs joined Walmart in 2000 and in his role as CFO is
responsible for accounting and controls, corporate strategy and
development, business planning and analysis, global procurement,
internal audit, treasury, tax and investor relations. Previously,
he held the roles of chief financial officer for Walmart
International, Walmart U.S. and Sam’s Club. He has also served as
senior vice president of international strategy, mergers and
acquisitions, and as senior vice president of corporate finance.
Biggs was also the senior vice president of operations for Sam’s
Club.
Prior to joining Walmart in 2000, Biggs held various M&A and
corporate finance positions with Leggett & Platt, Phillips
Petroleum Co. and Price Waterhouse.
About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better – anytime and anywhere – in retail stores,
online, and through their mobile devices. Each week, approximately
220 million customers and members visit approximately 10,500 stores
and clubs under 48 banners in 24 countries and eCommerce websites.
With fiscal year 2021 revenue of $559 billion, Walmart employs 2.2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
http://corporate.walmart.com, on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
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