Walmart Hires PayPal Executive John Rainey As New CFO

(RTTNews) - Retail giant Walmart Inc. (WMT) Tuesday announced that John Rainey has been named Walmart's next Executive Vice President and Chief Financial Officer. Rainey will assume the responsibilities of CFO on June 6, 2022.

Rainey joins Walmart from PayPal where he currently serves as the company's CFO and Executive Vice President, Global Customer Operations. Prior to PayPal, Rainey was Executive Vice President and CFO at United Airlines, and spent a combined 18 years between United and Continental Airlines. He began his professional career at Ernst & Young LLP.

Walmart had 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 January 31, 2023.