BENTONVILLE, Ark., April 12, 2022 — Walmart Inc. (NYSE: WMT) introduced today that John Rainey has been named Walmart’s following Govt Vice President and Chief Financial Officer (CFO). Rainey will assume the duties of CFO on June 6, 2022.
“John has a demonstrated track history of leading transform at scale in consumer provider companies innovating in their fields,” stated Walmart President and Main Govt Officer Doug McMillon. “I’m confident that John’s combine of fiscal and electronic acumen, coupled with his expertise top finance in sophisticated, highly aggressive industries, will enable us produce for our consumers and shareholders as we proceed to change our organization.”
Rainey joins Walmart from PayPal wherever he now serves as the company’s CFO and Govt Vice President, World wide Customer Operations. In this job, Rainey is accountable for all of PayPal’s economic operations. He also leads the company’s World-wide Client Operations crew, guiding PayPal’s initiatives to supply wonderful support activities by means of its client functions facilities all-around the entire world. Prior to PayPal, Rainey was Government Vice President and CFO at United Airways, a person of the world’s largest airlines, and used a combined 18 decades among United and Continental Airlines. He began his skilled career at Ernst & Young LLP.
Rainey is also on Nasdaq’s board of administrators, exactly 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 College of Business.
“I’m excited and humbled to sign up for these an legendary firm at a time when the retail marketplace proceeds its transformation,” stated Rainey. “I’ve intently watched Walmart’s changeover to an omnichannel firm, and I can’t wait around to be a part of the management group and our 2.3 million associates to proceed to assistance persons around the planet help save revenue and reside improved.”
The firm formerly introduced that Brett Biggs, who at present serves as CFO, would be leaving to start off a new chapter of possibilities in equally the for-gain and nonprofit sectors. Biggs will assist the transition to Rainey over the coming months, remaining in the CFO purpose until June 6, 2022, and then serve as an advisor until he leaves the enterprise on Jan. 31, 2023. As aspect of the transition, he will also continue on symbolizing the business as a board member on Walmart’s FinTech startup joint undertaking with Ribbit Money.
Walmart Inc. (NYSE: WMT) allows people about the earth preserve funds and dwell greater — at any time and wherever — in retail stores, online, and via their mobile equipment. Each 7 days, about 230 million clients and customers go to more than 10,500 merchants and clubs below 46 banners in 24 nations around the world and eCommerce sites. With fiscal year 2022 revenue of $573 billion, Walmart employs somewhere around 2.3 million associates around the world. Walmart carries on to be a leader in sustainability, company philanthropy and employment prospect. Further information and facts about Walmart can be identified by browsing corporate.walmart.com, on Facebook at fb.com/walmart and on Twitter at twitter.com/walmart.