Walmart appoints John Rainey as chief financial officer
US retail giant Walmart has named John Rainey as its next executive vice president and chief financial officer.
Due to take up his role on 6 June, he will join the business from PayPal where he currently serves as chief financial officer and executive vice president, global customer operations. Prior to PayPal, Rainey was chief financial officer at United Airlines.
Walmart president and chief executive Doug McMillon said: “John has a proven track record of leading change at scale in customer service organisations innovating in their fields. 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 will succeed Brett Biggs in the position, who is leaving to begin a new chapter in both the for-profit and non-profit sectors.
Biggs will support the transition to Rainey in the coming months then serve as an advisor until he leaves the company on 31 January 2023. As part of the transition, he will also continue representing Walmart as a board member on its FinTech start-up joint venture with Ribbit Capital.
