By Denny Jacob

PayPal Holdings Inc. said Tuesday that John Rainey, chief financial officer and executive vice president of global customer operations, is leaving the company to join Walmart Inc. as its chief financial officer.

The company's board has launched a formal search process to replace Mr. Rainey, who will remain at the company until late May. The board approved the appointment of Gabrielle Rabinovitch, senior vice president, corporate finance and investor relations, as interim chief financial officer following Mr. Rainey's departure.

The global customer operations team will join the risk, legal and customer operations organization led by Executive Vice President Aaron Karczmer.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

April 12, 2022 16:36 ET (20:36 GMT)

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