Walmart Names John Rainey New Chief Financial Officer
April 12 2022 - 4:10PM
Business Wire
Walmart Inc. (NYSE: WMT) announced today that John Rainey has
been named Walmart’s next Executive Vice President and Chief
Financial Officer (CFO). Rainey will assume the responsibilities of
CFO on June 6, 2022.
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Walmart Names John Rainey New Chief
Financial Officer (Photo: Business Wire)
“John has a proven track record of leading change at scale in
customer service organizations innovating in their fields,” said
Walmart President and Chief Executive Officer Doug McMillon. “I’m
confident that John’s mix of financial and digital acumen, coupled
with his experience leading finance in complex, highly competitive
industries, will help us deliver for our customers and shareholders
as we continue to transform our company.”
Rainey joins Walmart from PayPal where he currently serves as
the company’s CFO and Executive Vice President, Global Customer
Operations. In this role, Rainey is responsible for all of PayPal’s
financial operations. He also leads the company’s Global Customer
Operations team, guiding PayPal’s efforts to deliver great service
experiences through its customer operations centers around the
world. Prior to PayPal, Rainey was Executive Vice President and CFO
at United Airlines, one of the world’s largest airlines, and spent
a combined 18 years between United and Continental Airlines. He
began his professional career at Ernst & Young LLP.
Rainey is also on Nasdaq’s board of directors, where he is a
member of the audit committee and chair of the finance committee.
He also serves on the advisory board for Baylor University’s
Hankamer School of Business.
“I’m excited and humbled to join such an iconic company at a
time when the retail industry continues its transformation,” said
Rainey. “I’ve closely watched Walmart’s transition to an
omnichannel company, and I can’t wait to join the management team
and our 2.3 million associates to continue to help people around
the world save money and live better.”
The company previously announced that Brett Biggs, who currently
serves as CFO, would be leaving to begin a new chapter of
opportunities in both the for-profit and nonprofit sectors. Biggs
will support the transition to Rainey over the coming months,
remaining in the CFO role until June 6, 2022, and then serve as an
advisor 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.
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
230 million customers and members visit more than 10,500 stores and
clubs under 46 banners in 24 countries and eCommerce websites. With
fiscal year 2022 revenue of $573 billion, Walmart employs
approximately 2.3 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 https://corporate.walmart.com, on Facebook at
https://facebook.com/walmart and on Twitter at
https://twitter.com/walmart.
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